The founder and CEO of the leading exchange FTX, Sam Bankman-Fried has offered to give early liquidity to Voyager Digital’s customers, according to an announcement FTX published on July 22. Furthermore, Bankman-Fried discussed the crypto industry with CNBC in an exclusive interview, and noted that he was willing to deploy “hundreds of millions beyond what we have thus far” to help digital currency companies affected by the crypto market downturn.
The FTX CEO said:
Voyager’s customers did not choose to be bankruptcy investors holding unsecured claims. The goal of our joint proposal is to help establish a better way to resolve an insolvent crypto business – a way that allows customers to obtain early liquidity and reclaim a portion of their assets without forcing them to speculate on bankruptcy outcomes and take one-sided risks.
there are tokens that are securities and tokens that aren’t
by default I assume that SEC will take those that are (at least for issuances) and CFTC those that aren’t (at least for futures), but I’m flexible
In one specific tweet, Bankman-Fried said: “In the end, I want federal oversight of crypto one way or another.” Voorhees remarked that Bankman-Fried’s oversight comment was “the way toward crypto becoming banking 2.0, instead of an actual meaningful change in how money and finance work.”
What do you think about Sam Bankman-Fried and FTX offering to help ailing crypto firms weather the storm? What do you think about Bankman-Fried’s regulation statements? Let us know what you think about this subject in the comments section below.