FTX CEO believes that "there is little to no apparent synergy with the rest of our businesses,” while "looking from the perspective of acquiring a mining company."
Sam Bankman-Fried, the CEO and founder of Bahamian-based cryptocurrency exchange FTX founded in 2019, has recently dismissed the rumors indicating that the company would be acquiring crypto mining organizations.
According to the official tweet posted on July 2nd, the CEO stated that the firm isn’t currently “looking at miners,” however, it is willing to “have conversations with any companies.”
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is a Bitcoin Faucet? Pros & Cons Explained (With Animations)
Right after Bankman-Fried fired up the post, several players in the crypto community took the tweet out of context and went to Twitter to state that FTX is certainly eying distressed crypto miners. However, the founder once again dismissed the false information:
In fact, the former tweet was not the sole source of the rumors, as Bankman-Fried recently mentioned in an interview that he “doesn’t want to exclude anything” and is open to the possibility of acquiring a miner if a “very attractive” opportunity arises.
"When we think about the mining industry, they do play a little bit of role in the possible contagion spread, to the extent that there are miners that were collateralizing borrows with their mining rigs. There might come along a really compelling opportunity for us - I definitely don’t want to discount that possibility."
However, during the interview conducted on July 1st, the CEO also mentioned that crypto miners don’t actually fit in the company’s team as “there is little to no apparent synergy with the rest of our businesses.”
In other news, it appears that crypto mining is not universally accepted, as the New York State Senate adopted a measure to ban crypto mining in the city on June 3rd. The ultimate decision now rests in the hands of New York Governor Hochul, who is anticipated to make it within the next five months.
