Sam Bankman-Fried: FTX is not going to buy out troubled mining companies

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The head of the cryptocurrency derivatives exchange FTX believes that his statement about “readiness to negotiate with companies” was misunderstood by the community: the exchange is not going to absorb miners.

Sam Bankman-Fried denied via Twitter that his company was planning to enter the digital asset mining market:

“I really don’t understand why memes about FTX and mining companies are spreading. The quote was actually about how we are NOT looking that way.”

The reaction of the head of FTX followed in response toTwitter user's statement that Bankman-Fried is ready to negotiate the acquisition of a mining company. The user referred to the statement of the head of FTX that he “does not particularly look at miners, but is happy to negotiate with any companies.”

Earlier, Bankman-Fried said in an interview about“the emergence of an attractive opportunity” in mining that one would not want to miss. He added that cryptocurrency mining does not fit into the main strategy of the Bitcoin exchange.

Community during the default of manycrypto companies and the redistribution of their market is ready to believe in any rumors, especially those related to FTX, since the company is very active in terms of mergers and acquisitions. For example, they recently came true
rumors about the purchase of the American FTX.US credit service BlockFi.

Last week the cryptocurrency exchangeconsidered the possibility of providing financial support to the troubled crypto-lending platform Celsius in exchange for acquiring the company. However, after studying the financial situation of Celsius, FTX representatives discovered a shortfall in the company's balance sheet amounting to about $2 billion. As a result, FTX refused the takeover, deciding that there were no prospects for cooperation.

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Last month, FTX disclosed plans to buy a majority stake in trading platform Robinhood after acquiring a 7.6% stake in the company.