March 28, 2024

Brad Garlinghouse: “Ripple is interested in buying back the assets of the FTX exchange”

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Brad Garlinghouse: "Ripple is interested in buying out the assets of the FTX exchange"

Ripple management is interested in subsidiaries of the bankrupt crypto exchange FTX.

Ripple CEO Brad GarlinghouseGarglinghouse said FTX CEO Sam Bankman-Fried called him seeking funds to save the exchange. During the call, the two top managers discussed the possibility of selling FTX's subsidiaries.

“Part of our conversation was the question:Does FTX need liquidity? And if it is needed, can it be exchanged for part of the business. Could we buy some FTX assets? We could certainly consider this possibility. Although transferring money would be a difficult task,” explained the Ripple CEO.

In addition to the head office, FTX's bankruptcy filing lists about 130 affiliated companies. According to Garlinghouse, Ripple is most interested in companies that work with business clients.

Ripple CTO David Schwartz suggested
FTX employees looking for work should submit their resume to Ripple.

Earlier, the general counsel of Ripple reproached
American officials are unwilling to clarify the rules for regulating cryptocurrencies, which could prevent investor losses due to the bankruptcy of FTX.