Bankman-Fried: "FTX can use "hundreds of millions" to support the crypto industry"
In an interview with CNBC, FTX CEO Sam Bankman-Fried said that he is willing to spend "hundreds of millions beyond what we have at the moment, and in some cases more" to support firms affected by the recent collapse of the cryptocurrency market.
The interview took place a few days after Bloomberg reported that FTX and FTX US are in talks to raise new funds after the company invested almost $1 billion in two weeks in June.
During this period, Bankman-Fried bought the Canadian trading platform Bitvo and the Embed clearing house, and also concluded deals to provide renewable credit lines to the struggling cryptocurrency companies BlockFi and Voyager.
Although Bankman-Fried said the amount the firm will allocate is "indefinite," he noted that "there is a limit."
When asked if his recent buying activity creates conditions for a monopoly, he said that this is not what FTX is actively striving for, adding that "we would like other people to come and provide capital to those who need it."
https://coin-signal.com/cryptonews/bankman-fried-ftx-can-use-hundreds-of-millions-to-support-the-crypto-industry/
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