FTX chief Sam Bankman-Fried rejected reports that the bitcoin exchange is considering acquiring ‘problematic’ cryptocurrency mining firms.
“I really don’t understand why memes about FTX and mining companies are spreading. The actual quote was that we aren’t looking into that space,” he explained.
Really not sure why the meme about FTX and mining companies is spreading, the actual quote was that we *aren’t* really looking into the space.
— SBF (@SBF_FTX) July 3, 2022
Earlier, a Twitter user wrote that Bankman-Fried was open to talks about buying a digital-asset mining firm. The FTX CEO replied that he wasn’t really looking at miners, but was open to negotiating with any company.
Speculation about plans for FTX to buy a mining company emerged after Bloomberg.
In a statement to the agency, Bankman-Fried allowed for the emergence of an attractive opportunity in the space, which he would not want to miss. He added that cryptocurrency mining did not fit into the exchange’s core strategy.
On July 1, the US unit of FTX entered into a deal with the lending platform BlockFi, entailing a loan of $400 million and an option to acquire the company for $240 million.
In June, Bankman-Fried told about Alameda Research’s efforts to mitigate negative conditions in the crypto markets.
In May, the head of FTX promised to spend ‘billions’ on acquiring stakes in other companies.
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