FTX's Bankman-Fried Says It’s Worth Losing Money to Prop Up Crypto Industry

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."

SBF_FTX jesseahamilton He knows most of his losses will be in the short term SBF is playing the long game and knows 10 years from now when the crypto market becomes mainstream the returns he gets will make everyone believe he was a genius based on the purchases he has made

Thanks you veryy much_, pbe

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