{"id":63877,"date":"2022-07-04T12:25:24","date_gmt":"2022-07-04T09:25:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63877"},"modified":"2025-09-06T11:21:31","modified_gmt":"2025-09-06T08:21:31","slug":"ftx-chief-rejects-plans-to-acquire-problematic-mining-firms","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-chief-rejects-plans-to-acquire-problematic-mining-firms\/","title":{"rendered":"FTX chief rejects plans to acquire &#8216;problematic&#8217; mining firms"},"content":{"rendered":"<p>FTX chief Sam Bankman-Fried rejected reports that the bitcoin exchange is considering acquiring &#8216;problematic&#8217; cryptocurrency mining firms.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI really don&#8217;t understand why memes about FTX and mining companies are spreading. The actual quote was that we aren&#8217;t looking into that space,\u201d he explained.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Really not sure why the meme about FTX and mining companies is spreading, the actual quote was that we *aren\u2019t* really looking into the space.<\/p>\n<p>\u2014 SBF (@SBF_FTX) <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1543385386629693440?ref_src=twsrc%5Etfw\">July 3, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, a Twitter user wrote that Bankman-Fried was open to talks about buying a digital-asset mining firm. The FTX CEO replied that he wasn&#8217;t really looking at miners, but was open to negotiating with any company.<\/p>\n<p>Speculation about plans for FTX to buy a mining company emerged after <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-01\/sam-bankman-fried-explores-buying-distressed-crypto-miners-next\">Bloomberg<\/a>.<\/p>\n<p>In a statement to the agency, Bankman-Fried allowed for the emergence of an attractive opportunity in the space, which he would not want to miss. He added that cryptocurrency mining did not fit into the exchange&#8217;s core strategy.<\/p>\n<p>On July 1, the US unit of FTX <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-us-signs-deal-with-blockfi-with-option-to-acquire-the-lending-platform\">entered into a deal with the lending platform BlockFi<\/a>, entailing a loan of $400 million and an option to acquire the company for $240 million.<\/p>\n<p>In June, Bankman-Fried <a href=\"https:\/\/u1f987.com\/en\/news\/sam-bankman-fried-explains-alameda-researchs-role-in-supporting-the-industry-amid-downturn\">told<\/a> about Alameda Research&#8217;s efforts to mitigate negative conditions in the crypto markets.<\/p>\n<p>In May, the head of FTX <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-chief-says-the-exchange-will-spend-billions-on-acquiring-stakes-in-other-companies\">promised to spend &#8216;billions&#8217;<\/a> on acquiring stakes in other companies.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX chief Sam Bankman-Fried rejected reports that the bitcoin exchange was considering acquiring &#8216;problematic&#8217; cryptocurrency mining firms.<\/p>\n","protected":false},"author":1,"featured_media":63878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,1403],"class_list":["post-63877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-sam-bankman-fried"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63877"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63877\/revisions"}],"predecessor-version":[{"id":63879,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63877\/revisions\/63879"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63878"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}