SBF: Some of the companies previously tried to bail out are not always profitable
08/31 20:30
In a recent article, Bloomberg shared that FTX CEO Sam Bankman-Fried had tried to bail out a number of sinking crypto-related businesses. This cost his company around $1 billion and SBF not all of these investments will be profitable. One of them, Voyager Digital, which received a loan from Alameda Research, went bust in July, despite having received $485 million from Voyager a month earlier. Another company that received a loan from FTX was BlockFi, which agreed to accept a $400 million credit facility with an option to buy the company. The billionaire stressed that his aim was not just to make money on these deals, but to support companies that have suffered in the current bearish cryptocurrency market.
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