Billionaire FTX founder and CEO Sam Bankman-Fried said his exchange has a “responsibility” to bail out ailing crypto companies in times of crisis.
Speaking to NPR this weekend, Bankman-Fried said of the current crypto crash that, “I do feel like we have a responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion.” He added that, "Even if we weren't the ones who caused it, or weren't involved in it. I think that's what's healthy for the ecosystem, and I want to do what can help it grow and thrive."
The recent cryptocurrency crash has seen Bitcoin plummet to prices below $18,000. The top cryptocurrency has since recovered somewhat, though at its current price of $20,600, it’s still well below half the value it started the year at.
"The core driver of this has been the Fed," Bankman-Fried said, referring to the Federal Reserve's decision to raise interest rates by 0.75%, the largest hike since 1994. This has had a knock-on effect on...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...