Crypto exchange FTX goes hunting for stock trading brokerage start-ups

A CNBC report has it that FTX has been on the hunt to buy brokerage start-ups as the crypto exchange expands into stocks.

The Bahamas-based company has approached at least three privately held trading start-ups about an acquisition, according to the report.

Webull, Apex Clearing and were among the companies FTX has spoken to in recent months, according to the report.

The move comes as investors increasingly hold crypto and stocks, and brokerage firms look to offer the assets under one roof.

Robinhood has pivoted its business model away from just stocks and focused on cryptocurrencies, while SoFi, Block, and other fintechs now offer both.

Earlier in May, FTX CEO Sam Bankman-Fried took a 7.6% stake in Robinhood fueling speculation that the crypto company may be looking at an acquisition.