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

The head of 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 has denied on Twitter that his company is about to enter the digital asset mining market:

“I really don’t understand why memes about FTX and mining companies are spreading. In fact, the quote was that we are NOT looking in this direction.

The reaction of the head of FTX came in response to a statement by a Twitter user that Bankman-Fried was ready to negotiate the acquisition of a mining company. The user referred to the statement of the head of FTX that he “does not really look at the miners, but is happy to negotiate with any companies.”

Previously, Bankman-Fried, in an interview, stated that there is 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.

The community during the default of many crypto 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, recently rumors about the purchase of the American FTX.US loan service BlockFi came true.

Last week, the cryptocurrency exchange considered providing financial support to the troubled crypto lending site Celsius in exchange for acquiring the company. However, after examining Celsius’s financial position, FTX representatives discovered a shortage of about $2 billion in the company’s balance sheet. As a result, FTX abandoned the takeover, deciding that there were no prospects for cooperation.

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