FTX chief executive Sam Bankman-Fried, in an interview Axios, expressed optimism about the prospects for the crypto exchange. He is convinced that losses associated with the industry’s role as a ‘lender of last resort’ will not affect the business.
The billionaire noted that he is ‘prepared to take a small hit’ in the course of a ‘bailout’ of Voyager Digital, as the предоставленные $75 млн криптоброкеру относятся к активам клиентов и могут быть утрачены.
Sam Bankman-Fried emphasised that FTX’s profits are ‘roughly in line with last year’s figures’. In the deteriorating environment, this is aided by an expanding market share.
He anticipates an improvement in the situation in the future and an expansion of the platform’s product range as regulatory uncertainty eases and the economy recovers.
FTX is currently seeking a clearing partner in the equities market and is counting on developing cooperation with the IEX platform.
The senior executive said there were no ‘tons of calls’ from ‘problematic companies’ pestering him in the early weeks of crypto winter. Bankman-Fried did not rule out that a recovery could come ‘surprisingly quickly’.
The chief executive is optimistic about Congress focusing on developing a regulatory framework for the industry. He acknowledged that regulation will resemble that in traditional finance — ‘with similar high-level principles’ though the specifics may differ.
The FTX chief executive did not rule out adding Bitcoin as a reserve asset should its price fall to $15,000. At higher levels, the proposal was rejected by FTX.
Recently, media reports said that the Bitcoin exchange is expected to confirm a valuation of $32 billion following a potential investment round.
As reported, in July FTX US extended a revolving credit facility to BlockFi of $400 million with an option to purchase for $240 million. The parties had previously agreed to a revolving credit line of $250 million.
Prior to that, Alameda Research, linked to Bankman-Fried, provided Voyager Digital with a loan of 200 million USDC and a revolving line of credit for 15,000 BTC (~$300 million).
Earlier, the FTX CEO promised to spend ‘billions’ on acquiring stakes in other companies.
In May, Sam Bankman-Fried said the platform’s aim was to offer investors a wide range of products, including trading traditional equities.
Subsequently, reports emerged about plans to acquire one of the sector’s online-broker unicorns.
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