FTX Has a Few Billions to Support Struggling Crypto Projects, The Worst of Liquidity Crunch Possibly Over, Says SBF

Summary:

• Sam Bankman-Fried has stated that FTX has a fewer cardinal to enactment struggling crypto firms.
• He besides believes that the worst of the liquidity situation successful crypto mightiness person passed.

FTX’s laminitis and CEO, Sam Bankman-Fried, has stated successful an interrogation that the crypto speech has a fewer cardinal acceptable speech to assistance struggling crypto firms that person the imaginable of destabilizing the integer plus industry. In addition, Mr. Bankman-Fried believes that the worst of the crypto liquidity crunch is apt over.

He added that the crypto speech has seen much crypto companies scope retired during the existent trying times. He said:

We’re starting to get a fewer much companies reaching retired to us…Having spot with consumers that things volition enactment arsenic advertised is incredibly important and if breached is incredibly hard to get back…If each that mattered was 1 azygous event, we could get supra a mates billion

What We’ve Seen So Far Might beryllium Healthy. It Has Flushed Out Some of the Leverage.

During the interview, Mr. Bankman-Fried was asked what helium thought astir the ongoing crypto drawdown effects connected crypto projects. He replied that it mightiness beryllium somewhat steadfast successful that it flushes retired immoderate of the leverage successful the industry. He said:

I deliberation what we’ve seen truthful acold mightiness beryllium healthy. You cognize to the grade that what it is doing is flushing retired immoderate of the leverage that had to get flushed out. Flushing retired immoderate of the players that conscionable were not capitalized good capable you know. I deliberation that could yet extremity up being moderately steadfast for markets.

FTX Rumored to Be Eyeing Robinhood.

Sam Bankman-Fried’s comments connected FTX’s currency holdings and the anticipation of bailing retired much crypto projects travel aft the exchange, and Alameda Research lent a fiscal helping manus successful the signifier of loans to Voyager Digital and BlockFi.

There were besides rumors of FTX purchasing the fashionable trading exertion Robinhood. However, Mr. Bankman-Fried pointed retired that it mightiness beryllium excessively aboriginal to reason a woody had been made. He said:

I don’t deliberation you regularisation thing out…There is nary benignant of progressive discussions…you cognize astir an M&A oregon thing similar that. It was chiefly much of a…you cognize concern and you cognize again…always excited to speech to them astir imaginable concern opportunities.