FTX CEO Sam Bankman-Fried said they are willing to spend hundreds of millions of dollars to support collapsed crypto firms.
Speaking to CNBC, Bankman-Fried signaled that they will continue to support the cryptocurrency industry.
The FTX CEO’s comments came days after it was revealed that FTX and FTX US were in talks to raise new funds.
Bankman-Fried soon acquired trading platform Bitvo and Embed. Additionally, he gave credits for BlockFi and Voyager.
Although Bankman-Fried expressed that the funds that the firm will distribute are “open-ended”, he emphasized that there are still limits.
Answering a question that FTX has started to monopolize the industry, Bankman-Fried said, “We would love for other people to come and provide capital to those who need it.”
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