Bahamas-based crypto exchange FTX is moving its U.S. headquarters to Miami, only four months after cutting the ribbon on its headquarters in Chicago.
“Really grateful to work with Zach Dexter, Ryne Miller, and others to push forward in the US; and a heartfelt goodbye to Brett Harrison as he transitions to an advisor and FTX US transitions to its Miami HQ!,” CEO Sam Bankman-Fried announced the Miami move in a tweet.
When speaking with Bloomberg about the move, FTX CEO Sam Bankman-Fried said that establishing offices all over the world was key to the company’s mission of getting licensure for its various businesses.
FTX moved its global headquarters from Hong Kong to the Bahamas in September.
“Frankly, for us, having clear licensure for our marketplaces is by far the biggest piece of this, that’s what we’ve been focusing on,” Bankman-Fried said.
Miami has become a hot spot for crypto companies in the U.S., second only to New York in terms of cities with the most investments in crypto startups.
Several companies, including crypto exchange Blockchain.com and now FTX.US, have moved their headquarters to Miami. Others, including fellow exchange eToro, have expanded their U.S. presence with offices in the city.
Last March, FTX.US purchased the naming rights to the Miami Heat arena for $135 million.
For Gabriela Huerta