'It's okay to do a deal that is moderately bad' to maintain the health of the overall crypto industry, FTX co-founder and CEO SBF_FTX told an audience Tuesday. jesseahamilton reports
FTX co-founder and CEO Sam-Bankman Fried said he isn't bothered by losing some money if his bailouts keep the crypto infrastructure humming.
“The bar is not: Is this a good return on investment?” he said. It’s more about maintaining the health of the wider industry. While FTX has extended millions of dollars to those companies, that hasn’t necessarily succeeded in bailing them out. BlockFi negotiated a deal where FTX could buy the company outright, and Voyager filed for bankruptcy earlier this month. When the Voyager deal came up during a panel discussion, Bankman-Fried laughed and shrugged off the dollars that may have been"incinerated."
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