San Francisco-based crypto firm Ripple is interested in buying the assets of bankrupt FTX.
Ripple, which said in August that it was interested in buying Celsius’s assets, turned its eyes to FTX. Continuing its fight with the SEC, the company aims to grow in the European market as well as the XRP case. One of Ripple’s growth policies could be the acquisition of FTX’s assets.
Ripple Interested in FTX Assets
Crypto company Ripple is considering buying the assets of the FTX exchange, which raised the flag of bankruptcy.
Bahamas-based FTX collapsed after fears about its balance sheet led to a wave of customer withdrawals. Rival Binance later withdrew from a controversial bailout. Sam Bankman-Fried, ex-CEO of FTX, was looking for investment but couldn’t find what he wanted.
According to the news in The Sunday Times, Garlinghouse was among those who sought funding from Sam Bankman-Fried, former CEO of FTX, on the cusp of the stock market’s final crash.
Ripple CEO Brad Garlinghouse is willing to buy parts of the exchange that serve commercial clients. The company also has its eye on other companies that make up FTX’s expanding portfolio. It is stated that this will allow Garlinghouse to strategically scale the company, which aims to continue its growth even during the ongoing bear market.
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