Sam Bankman-Fried, the CEO of crypto derivatives exchange FTX, said in an interview with CNBC’s Squawk Box that the exchange has at least $1 billion to deploy on acquisitions and bailouts.
Although he wouldn’t commit to a specific figure, Bankman-Fried said that, “You get to definitional issues here, of how much should we really feel comfortable deploying. Saying that there's another ballpark billion that is completely unencumbered, certainly will get you within a factor of two of the right answer.”
Bankman-Fried said that, “We try not to empty the coffers, so to speak.”
FTX’s bailouts and acquisitions
The exchange has been a key player in acquiring crypto projects that were at risk of going under during the market downturn.
Making the decision to pull the trigger on bailouts and acquisitions was no easy matter, Bankman-Fried said. “We only had a few days to make some of these decisions,” adding that the key factors were “backstopping customers and making sure they’re protected,” as...
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