The economic crisis in crypto is waning, FTX co-founder and CEO Sam Bankman-Fried thinks. He noted, in an interview on Axios Pro on Thursday, that he is no longer getting “a ton of calls” from distressed businesses, as he was in the first weeks of the so-called crypto winter. Given a positive economic macro-environment, recovery could happen “remarkably fast,” he said.
FTX is “willing to lose a little” in its role as lender of last resort, Bankman-Fried said. He noted that $70 million of the loan, worth approximately $500 million total, that Bankman-Fried’s Alameda Research made to Voyager Digital was junior to customer assets and could be lost.
Nonetheless, Bankman-Fried said he expects FTX to turn a profit every quarter this year. FTX profits are “running kind of roughly in line with last year,” and the company has gained market share in the last few months. FTX rejected the idea of adding Bitcoin (BTC) to its treasury, Bankman-Fried also said, but would have considered it in the...
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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...