FTX.US backs 'Flash Boys' exchange IEX as firm maps out crypto strategy

  • Sam Bankman Fried’s FTX.US will make a strategic investment in IEX. 
  • Though the terms of the deal were not disclosed, the investment is subject to regulatory approvals that suggest it is larger than $100 million. 

Nearly a decade ago, IEX Group set out to transform markets by launching a new kind of trading venue to topple traditional equity venues. Now, the firm made famous by Michael Lewis' "Flash Boys" is partnering with FTX in an attempt to put crypto on an equal footing with traditional finance.

In an announcement Tuesday, the New York-based firm — which gained securities exchange status in 2016 — said that Sam Bankman-Fr