Sam-Bankman Fried, co-founder and CEO of FTX, talks about acquiring troubled crypto mining operations to help curb the epidemic of downturn in the crypto industry.He told Bloomberg in an interview yesterday.Friday
“When we think of the mining industry They play a small role in the spread of possible problems. As far as there will be miners who have secured loans on their mining machines,” Bankman-Fried said, “and there could certainly be interesting opportunities for us.”
for sure Bankman-Fried Tweetthat he didn’t “just look at the miners in particular But willing to talk to companies as well.” After the news was published.
Private and publicly traded crypto miners is facing compulsory sales of collateral and default after havingTotal debt is between $2 billion and $4 billion. to finance the construction of large facilities across North America. Based on data collected by CoinDesk and industry participants.
FTX just announced Friday that it has entered into a deal with crypto lender BlockFi. (crypto) to provide a $400 million line of credit to BlockFi and Alameda Research, owned by Bankman-Friedexpand$200 million in cash/USDC and 15,000 bitcoin ($294 million) revolving line of credit to Voyager Digital.
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