Sam Bankman-Fried, CEO of FTX, indicated in a CNBC interview today that he would be willing to invest “hundreds of millions” beyond what they have to help businesses affected by the recent market declines for cryptocurrencies. The interview took place a few days after Bloomberg revealed that FTX and FTX.US were discussing seeking new capital after going on a spending binge that saw the firm spend almost $1 billion over two weeks in June. During this period, Bankman-Fried acquired Bitvo, a Canadian trading platform, and clearing house Embed. It also got into agreements to give BlockFi and Voyager, two failing cryptocurrency companies, revolving credit lines. FTX to Deploy Open-Ended Amount Despite stating that the corporation will deploy an “open-ended” amount, Bankman-Fried added that “there is a limit.” When questioned about whether his recent buying binge fosters a monopoly, he responded that FTX is not actively pursuing this. “We would love for other individuals to be stepping in and contributing capital to those in need,” he added. Sam Bankman-Fried, CEO of one of the biggest cryptocurrency exchanges, FTX, claimed that while the worst of the liquidity shortage has probably passed, his company and he still has “a few billion” available to support struggling businesses that can further destabilize the digital asset industry.The post FTX CEO: We May Invest “Hundreds of Millions” to Help Crypto Firms appeared first on Cryptoknowmics-Crypto News and Media Platform.
