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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.

 

 

The post FTX willing to use $2B in cash to bail out crypto industry, stop contagion appeared first on CryptoSlate.



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