2 years ago
The laminitis and CEO of the starring speech FTX, Sam Bankman-Fried has offered to springiness aboriginal liquidity to Voyager Digital’s customers, according to an announcement FTX published connected July 22. Furthermore, Bankman-Fried discussed the crypto manufacture with CNBC successful an exclusive interview, and noted that helium was consenting to deploy “hundreds of millions beyond what we person frankincense far” to assistance integer currency companies affected by the crypto marketplace downturn.
FTX Plans to ‘Provide Early Liquidity to Customers of Voyager’
Not excessively agelong agone connected June 28, Sam Bankman-Fried told Forbes writer Steven Ehrlich that immoderate crypto firms were “secretly insolvent” and helium warned much insolvencies were coming. The FTX CEO’s words came true, arsenic much companies with fiscal issues followed the problems customers were having with Celsius freezing withdrawals. Celsius yet filed for bankruptcy extortion alongside Three Arrows Capital, and Voyager Digital.
happy to bash what we tin to get liquidity to Voyager's customers: https://t.co/zDtGMfGq64 https://t.co/MdoIfU229B
— SBF (@SBF_FTX) July 22, 2022
On July 22, Bankman-Fried tweeted retired a connection that explains FTX is consenting to assistance Voyager’s customers. “Happy to bash what we tin to get liquidity to Voyager’s customers,” Bankman-Fried said successful his tweet. A press release shared by Bankman-Fried notes that FTX announced a associated connection with West Realm Shires Inc., the proprietor and relation of FTX US, and Alameda Ventures. The institution plans to “provide aboriginal liquidity to customers of Voyager.” Bankman-Fried said helium wanted to connection a amended mode to assistance customers get liquidity.
The FTX CEO said:
Voyager’s customers did not take to beryllium bankruptcy investors holding unsecured claims. The extremity of our associated connection is to assistance found a amended mode to resoluteness an insolvent crypto concern – a mode that allows customers to get aboriginal liquidity and reclaim a information of their assets without forcing them to speculate connected bankruptcy outcomes and instrumentality one-sided risks.
Bankman-Fried’s CNBC Interview Discusses FTX Ready to Help Distressed Crypto Firms With ‘Hundreds of Millions’ — FTX CEO’s Crypto Oversight Comments Criticized by Shapeshift’s Founder
On July 22, Bankman-Fried did an interview for CNBC’s “Closing Bell,” and said FTX was consenting to deploy “hundreds of millions beyond what we person frankincense far” to crypto firms suffering from the downturn. Bankman-Fried further said that helium would emotion to spot much radical stepping successful to “[provide] superior to those successful need.” The quality follows the FTX CEO explaining that the institution was acceptable to walk billions connected mergers and acquisition deals astatine the extremity of May.
The FTX CEO besides talked astir cryptocurrency markets and noted that helium believes crypto regulations volition emergence successful the adjacent future. The interrogation with Bankman-Fried besides touched upon the cryptocurrency insider trading case launched by the U.S. Securities and Exchange Commission (SEC). Following the interview, the laminitis of Shapeshift, Erik Voorhees tweeted astir Bankman-Fried’s recent regularisation statements the CEO of FTX shared connected Twitter.
there are tokens that are securities and tokens that aren't
by default I presume that SEC volition instrumentality those that are (at slightest for issuances) and CFTC those that aren't (at slightest for futures), but I'm flexible
in the extremity I privation national oversight of crypto 1 mode oregon different https://t.co/dexp04XyjC
— SBF (@SBF_FTX) July 23, 2022
In 1 circumstantial tweet, Bankman-Fried said: “In the end, I privation national oversight of crypto 1 mode oregon another.” Voorhees remarked that Bankman-Fried’s oversight remark was “the mode toward crypto becoming banking 2.0, alternatively of an existent meaningful alteration successful however wealth and concern work.”
“If you attraction astir improving the satellite with this tech, delight debar this impetus,” Voorhees added. You’ve already built an awesome crypto empire [Sam Bankman-Fried]. Please usage it for good, and not to entangle america backmost into the bequest strategy that is truthful profoundly corrupted and perverse.”
What bash you deliberation astir Sam Bankman-Fried and FTX offering to assistance ailing crypto firms upwind the storm? What bash you deliberation astir Bankman-Fried’s regularisation statements? Let america cognize what you deliberation astir this taxable successful the comments conception below.
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