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The founder and CEO of the leading exchange FTX, Sam Bankman-Fried has offered to give early liquidity to Voyager Digital\u2019s customers, according to an announcement FTX published on July 22. Furthermore, Bankman-Fried discussed the crypto industry with CNBC in an exclusive interview, and noted that he was willing to deploy \u201chundreds of millions beyond what we have thus far\u201d to help digital currency companies affected by the crypto market downturn.<\/strong><\/p>\n Not too long ago on June 28, Sam Bankman-Fried told Forbes author Steven Ehrlich that some crypto firms were \u201csecretly insolvent\u201d and he warned<\/a> more insolvencies were coming. The FTX CEO\u2019s words came true, as more companies with financial issues followed the problems customers were having with Celsius freezing withdrawals<\/a>. Celsius eventually filed<\/a> for bankruptcy protection alongside Three Arrows Capital<\/a>, and Voyager Digital<\/a>.<\/p>\n happy to do what we can to get liquidity to Voyager’s customers: https:\/\/t.co\/zDtGMfGq64<\/a> https:\/\/t.co\/MdoIfU229B<\/a><\/p>\n \u2014 SBF (@SBF_FTX) July 22, 2022<\/a><\/p>\n<\/blockquote>\n On July 22, Bankman-Fried tweeted out a statement that explains FTX is willing to help Voyager\u2019s customers. \u201cHappy to do what we can to get liquidity to Voyager\u2019s customers,\u201d Bankman-Fried said<\/a> in his tweet. A press release<\/a> shared by Bankman-Fried notes that FTX announced a joint offer with West Realm Shires Inc., the owner and operator of FTX US, and Alameda Ventures. The company plans to \u201cprovide early liquidity to customers of Voyager.\u201d Bankman-Fried said he wanted to offer a better way to help customers get liquidity.<\/p>\n The FTX CEO said:<\/p>\n Voyager\u2019s customers did not choose to be bankruptcy investors holding unsecured claims. The goal of our joint proposal is to help establish a better way to resolve an insolvent crypto business \u2013 a way that allows customers to obtain early liquidity and reclaim a portion of their assets without forcing them to speculate on bankruptcy outcomes and take one-sided risks.<\/p>\n<\/blockquote>\n On July 22, Bankman-Fried did an interview<\/a> for CNBC\u2019s \u201cClosing Bell,\u201d and said FTX was willing to deploy \u201chundreds of millions beyond what we have thus far\u201d to crypto firms suffering from the downturn. Bankman-Fried further said that he would love to see more people stepping in to \u201c[provide] capital to those in need.\u201d The news follows the FTX CEO explaining<\/a> that the company was ready to spend billions on mergers and acquisition deals at the end of May.<\/p>\n The FTX CEO also talked about cryptocurrency markets and noted that he believes crypto regulations will rise in the near future. The interview with Bankman-Fried also touched upon the cryptocurrency insider trading case<\/a> launched by the U.S. Securities and Exchange Commission (SEC). Following the interview, the founder of Shapeshift, Erik Voorhees tweeted<\/a> about Bankman-Fried\u2019s recent regulation statements<\/a> the CEO of FTX shared<\/a> on Twitter.<\/p>\n there are tokens that are securities and tokens that aren’t<\/p>\n by default I assume that SEC will take those that are (at least for issuances) and CFTC those that aren’t (at least for futures), but I’m flexible<\/p>\n in the end I want federal oversight of crypto one way or another https:\/\/t.co\/dexp04XyjC<\/a><\/p>\n \u2014 SBF (@SBF_FTX) July 23, 2022<\/a><\/p>\n<\/blockquote>\n In one specific tweet, Bankman-Fried said: \u201cIn the end, I want federal oversight of crypto one way or another.\u201d Voorhees remarked that Bankman-Fried\u2019s oversight comment was \u201cthe way toward crypto becoming banking 2.0, instead of an actual meaningful change in how money and finance work.\u201d<\/p>\n \u201cIf you care about improving the world with this tech, please avoid this impetus,\u201d Voorhees added<\/a>. You\u2019ve already built an impressive crypto empire [Sam Bankman-Fried]. Please use it for good, and not to entangle us back into the legacy system that is so deeply corrupted and perverse.\u201d<\/p>\n What do you think about Sam Bankman-Fried and FTX offering to help ailing crypto firms weather the storm? What do you think about Bankman-Fried\u2019s regulation statements? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\nFTX Plans to \u2018Provide Early Liquidity to Customers of Voyager\u2019<\/h2>\n
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Bankman-Fried\u2019s CNBC Interview Discusses FTX Ready to Help Distressed Crypto Firms With \u2018Hundreds of Millions\u2019 \u2014 FTX CEO\u2019s Crypto Oversight Comments Criticized by Shapeshift\u2019s Founder<\/h2>\n
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