Saving cryptocurrencies: when FTX plays it superhero

FTX dons his cape – Following the Terra Disaster (LUNA) and its stablecoin UST last May, the most fragile crypto-companies fell one after the other, under the domino effect. Since then, the platform FTX seems to specialize in rescue/redemption companies in difficulty. And, Sam Bankman-Fried’s crypto-stock exchange would still have something to save the world.

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The company behind the exchange platform FTX seems to be going through this crypto winter without shaking in the least. On the contrary, the group founded by Sam Bankman-Fried (SBF) has cash to invest in this market which turns red, swept away in the wake of Bitcoin (BTC) prices, which fail to recover.

In a recent interview given to CNBC’s Squawk Box, Sam Bankman-Fried confirms the healthy of his business. The FTX boss also explains that his company still has 1 billion dollars available to continue to save (redeem) the players in the crypto sector in distress:

“It was important that the sector come out of this in one piece. (…) It won’t be good for anyone in the long run if we have real pain and real blowouts – it wouldn’t be fair to customers, and it wouldn’t be good for regulation. (…) The question of how much we really feel comfortable deploying again, but there is another billion [de dollars] which is still completely free. (…)”

FTX and Sam Bankman-Fried are therefore still far from running out of cash to continue to buy up the great opportunities that arise among the weakened prey of this bear market. This frantic desire to “rescue-acquisition” is such that some companies, like Voyager Digitalmust repel the pressing advances of FTX.

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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