FTX's Bankman-Fried Says It’s Worth Losing Money to Prop Up Crypto Industry

Jul 20,2022
KingData News: FTX co-founder and CEO Sam-Bankman Fried said he isn't bothered by losing some money if his bailouts keep the crypto infrastructure humming. Bankman-Fried said the need to be a “good, constructive actor in this space” justifies “incinerating a small amount of money.” FTX and Bankman-Fried’s Alameda Research have offered costly rescues to crypto lender BlockFi and crypto broker Voyager Digital amid a broad market downturn, and Bankman-Fried said he's open to helping more. Bankman-Fried also said that FTX was standing ready to start buying bitcoin if the price fell to a certain, unnamed floor.
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