Sam Bankman Fried, the CEO of the exchange platform FTX, intends to use part of the company’s funds to help other players in the crypto world suffering badly from the bear market.
JUST IN: FTX CEO Sam Bankman-Fried says the exchange has over $2 billion they could use in #crypto industry deals, if needed.
— Watcher.Guru (@WatcherGuru) July 6, 2022
The boss of FTX confirmed his intention in an interview. Sam Bankman Fried (SBF) believes that the burnt of the storm has passed for crypto businesses. He also admits that he did not think the crisis would be serious.
As a reminder, “several crypto companies have declared bankruptcy recently. Yesterday, Voyager Digital filed for bankruptcy in the United States.” According to Sam Bankman Fried.
“I don’t think this is an existential crisis for the industry, but it’s worse than I would have anticipated.”
According to Sam Bankman Fried, several companies have already contacted FTX, and it could be the minor exchange is still going bankrupt.
For Sam Bankman-Fried, the idea is not just to protect the companies. It’s about preserving user trust, a crucial step to getting out of this “crypto winter.”
FTX has been spared the heavy weather that is rocking the cryptocurrency world right now. The company, which currently has 300 employees, Intends to occupy a prominent place within the ecosystem in the years to come. The acts of charity show, in any case, that the platform certainly has the firepower necessary to get through this period.
