FTX CEO Sam Bankman-Fried emphasized the importance of supporting the crypto industry.
Bankman-Fried stated that if the financial aids keep the crypto industry alive, he will not be bothered by the loss of money.
“It’s okay to have a moderately bad deal to save a place,” Bankman Fried told Bloomberg Crypto Summit.
“Our bar is not: Is this a good return on investment? It’s more about protecting the health of the broader industry.”
FTX had submitted salvage offers to BlockFi and Voyager Digital. Despite the millions of dollars FTX has given, this has not been enough to save the companies. BlockFi has entered into an agreement that allows FTX to buy the company outright. Voyager has filed for bankruptcy.
FTX Ready to Buy Bitcoin
The CEO of FTX also emphasized that the company is ready to buy Bitcoin if the price drops to bottom levels.
“We discussed this at one point. It had a price, but it has not fallen to that price yet.”
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