Crypto exchange FTX has "a few billion" to support industry - Bankman-Fried

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Bankman-Fried, 30, who is from California yet resides in the Bahamas where FTX is based, has turned into crypto's white knight lately.

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Sam Bankman-Fried, head of one of the biggest cryptocurrency trades, FTX, said he his organization actually have "few billion" close by to support battling firms.

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That could additionally weaken the computerized resource industry, yet that the most obviously terrible of the liquidity crunch has likely passed.

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Cryptocurrencies prices have cratered. Bitcoin is down around 70% from its all-time November high of nearly $69,000.

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FTX gave U.S. cryptocurrency lender BlockFi a $250 million rotating credit office and on reported an arrangement giving FTX the option to buy it in view of specific execution triggers.

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Bankman-Fried said the objective of the bailouts was to shield client resources and prevent disease from deflecting through the framework.

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Bankman-Fried said Having entrust with buyers that things will function as promoted is unimaginably significant and assuming broken is staggeringly difficult to get back.

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Bankman-Fried said Every quarter this year, I expect our workforce to be bigger than the previous quarter.

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