{"id":64742,"date":"2022-07-22T10:29:02","date_gmt":"2022-07-22T07:29:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64742"},"modified":"2025-09-06T16:05:28","modified_gmt":"2025-09-06T13:05:28","slug":"sam-bankman-fried-says-ftx-is-profitable-amid-losses-tied-to-industry-support","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sam-bankman-fried-says-ftx-is-profitable-amid-losses-tied-to-industry-support\/","title":{"rendered":"Sam Bankman-Fried says FTX is profitable amid losses tied to industry support"},"content":{"rendered":"

FTX chief executive Sam Bankman-Fried, in an interview Axios<\/a>, expressed optimism about the prospects for the crypto exchange. He is convinced that losses associated with the industry\u2019s role as a ‘lender of last resort’ will not affect the business.<\/p>\n

The billionaire noted that he is ‘prepared to take a small hit’ in the course of a ‘bailout’ of Voyager Digital, as the \u043f\u0440\u0435\u0434\u043e\u0441\u0442\u0430\u0432\u043b\u0435\u043d\u043d\u044b\u0435 $75 \u043c\u043b\u043d<\/a> \u043a\u0440\u0438\u043f\u0442\u043e\u0431\u0440\u043e\u043a\u0435\u0440\u0443 \u043e\u0442\u043d\u043e\u0441\u044f\u0442\u0441\u044f \u043a \u0430\u043a\u0442\u0438\u0432\u0430\u043c \u043a\u043b\u0438\u0435\u043d\u0442\u043e\u0432 \u0438 \u043c\u043e\u0433\u0443\u0442 \u0431\u044b\u0442\u044c \u0443\u0442\u0440\u0430\u0447\u0435\u043d\u044b.<\/p>\n

Sam Bankman-Fried emphasised that FTX’s profits are ‘roughly in line with last year’s figures’. In the deteriorating environment, this is aided by an expanding market share.<\/p>\n

He anticipates an improvement in the situation in the future and an expansion of the platform’s product range as regulatory uncertainty eases and the economy recovers.<\/p>\n

FTX is currently seeking a clearing partner in the equities market and is counting on developing cooperation with the IEX platform.<\/p>\n

The senior executive said there were no ‘tons of calls’ from ‘problematic companies’ pestering him in the early weeks of crypto winter. Bankman-Fried did not rule out that a recovery could come ‘surprisingly quickly’.<\/p>\n

The chief executive is optimistic about Congress focusing on developing a regulatory framework for the industry. He acknowledged that regulation will resemble that in traditional finance \u2014 ‘with similar high-level principles’ though the specifics may differ.<\/p>\n

The FTX chief executive did not rule out adding Bitcoin as a reserve asset should its price fall to $15,000. At higher levels, the proposal was rejected by FTX.<\/p>\n

Recently, media reports said that the Bitcoin exchange is expected to confirm a valuation of $32 billion following a potential investment round.<\/p>\n

As reported, in July FTX US extended a revolving credit facility to BlockFi of $400 million with an option to purchase for $240 million. The parties had previously agreed to a revolving credit line of $250 million.<\/p>\n

Prior to that, Alameda Research, linked to Bankman-Fried, provided Voyager Digital with a loan of 200 million USDC and a revolving line of credit for 15,000 BTC (~$300 million).<\/p>\n

Earlier, the FTX CEO promised to spend ‘billions’ on acquiring stakes in other companies.<\/p>\n

In May, Sam Bankman-Fried said the platform’s aim was to offer investors a wide range of products, including trading traditional equities.<\/p>\n

Subsequently, reports emerged about plans to acquire one of the sector’s online-broker unicorns.<\/p>\n

Read more about Bankman-Fried in ForkLog’s educational cards.<\/p>\n

Follow ForkLog’s Bitcoin news in our Telegram \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

FTX CEO Sam Bankman-Fried, in an Axios interview, expressed optimism about the development of the crypto exchange. He is convinced that losses associated with the industry\u2019s ‘lender of last resort’ role will not affect the business.<\/p>\n","protected":false},"author":1,"featured_media":64743,"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":[1236,1138,1403],"class_list":["post-64742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-opinions","tag-sam-bankman-fried"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64742","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=64742"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64742\/revisions"}],"predecessor-version":[{"id":64744,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64742\/revisions\/64744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64743"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}