FTX willing to use $2B in cash to bail out crypto industry, stop contagion
FTX CEO Sam Bankman-Fried told CNN that FTX has “enough cash on hand to do a $2 billion deal if necessary” to help support the crypto industry through difficult times.
- FTX has $2 billion in cash that could be put into one single investment should it be required.
- The exchange is only looking to aid companies with a good business model, customers who need protection, and a solid long-term outlook.
- The current downturn in the market is healthy in that it has “flushed out” players who were overleveraged.
This story is developing and will be updated with future insights.
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