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FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry

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According to FTX’s July 22 announcement, FTX’s founder and CEO, Sam Bankman-Fried, has offered to provide early liquidity to Voyager Digital customers. Additionally, Bankman-Fried discussed the crypto industry with CNBC in an exclusive interview. , and noted that he is ready to deploy “hundreds of millions on top of what we currently have” to help digital currency companies hit by the downturn in the cryptocurrency market.

FTX plans to ‘provide early liquidity to Voyager customers’

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As recently as June 28, Sam Bankman-Fried told Forbes writer Stephen Ehrlich that some crypto firms were “secretly insolvent” and warned that more bankruptcies were coming. FTX’s CEO’s words came true as more companies with financial problems followed up on customer concerns with Celsius withdrawal freezes. Celsius eventually filed for bankruptcy protection along with Three Arrows Capital and Voyager Digital.

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On July 22, Bankman-Fried released a statement on Twitter explaining that FTX is ready to help Voyager customers. “We are happy to do everything we can to provide liquidity to Voyager customers,” Bankman-Fried said. said in your tweet. BUT Press release Bankman-Fried notes that FTX has announced a joint offer with West Realm Shires Inc., owner and operator of FTX US, and Alameda Ventures. The company plans to “provide early liquidity to Voyager customers.” Bankman-Fried said he wants to offer a better way to help clients get liquidity.

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FTX CEO said:

Voyager’s clients didn’t want to become bankruptcy investors with unsecured claims. The purpose of our joint proposal is to help find the best way to resolve an insolvent crypto business – a way that allows clients to get early liquidity and recover some of their assets without forcing them to speculate on the results of bankruptcy and take one-sided risks. .

Bankman-Fried CNBC Interview Discusses FTX Ready to Help Troubled Crypto Firms with ‘Hundreds of Millions’ – FTX CEO Crypto Oversight Comments Criticized by Shapeshift Founder

On July 22, Bankman-Freed held interview for CNBC’s “Final Call” and said FTX is ready to deploy “hundreds of millions on top of what we currently have” for crypto firms suffering from the economic downturn. Bankman-Fried also said he would like more people to join “[provide] capital for the needy. The news followed FTX’s CEO explaining that the company was ready to spend billions on M&A deals at the end of May.

The CEO of FTX also spoke about the cryptocurrency markets and noted that he believes that regulation of cryptocurrencies will be tightened in the near future. The interview with Bankman-Fried also touched upon the insider trading cryptocurrency case filed by the US Securities and Exchange Commission (SEC). After the interview, Shapeshift founder Eric Voorhees tweeted about Bankman Fried recent regulatory statements FTX CEO general on Twitter.

In one particular tweet, Bankman-Fried said, “At the end of the day, I want federal control of cryptocurrencies anyway.” Voorhees noted that Bankman-Fried’s supervisory comment was “a path towards crypto banking 2.0, not a real meaningful change in how money and finance works.”

“If you want to improve the world with this technology, please avoid this momentum.” – Voorhees added. You have already built an impressive crypto empire [Sam Bankman-Fried]. Please use it for good and not to confuse us again in a legacy system that is so deeply flawed and vicious.”

What do you think of Sam Bankman-Fried and FTX’s proposals to help sick crypto firms weather the storm? What do you think of Bankman-Fried’s regulatory statements? Let us know what you think about it in the comments section below.

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Credit : news.bitcoin.com

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