SBF: Crypto winter winding down, FTX to turn a profit as it serves as lender of last resort

2022.07.22 06:46

SBF: Crypto winter winding down, FTX to turn a profit as it serves as lender of last resort

The economic crisis in crypto is waning, FTX co-founder and CEO Sam Bankman-Fried thinks. He noted in an interview on Axios Pro Thursday that he is not getting “a ton of calls” from distressed businesses, as he was in the first weeks of the so-called crypto winter. Given a positive economic macro-environment, recovery could be “remarkably fast,” he said.

FTX is “willing to lose a little” in its role as lender of last resort, Bankman-Fried said. He noted that $70 million of the loan worth approximately $500 million Bankman-Fried’s Alameda Research made to Voyager Digital was junior to customer assets and could be lost.

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