Sam Bankman-Fried, chief executive of digital asset exchange FTX, said his efforts to bail out companies during the crypto market downturn have had “mixed” results.
The 30-year-old billionaire engineered deals worth about $1 billion to backstop struggling companies after the prices of cryptocurrencies like Bitcoin declined sharply in the spring and summer. Not all of these bailouts had a happy ending, Bankman-Fried said in an interview on Bloomberg’s “David Rubenstein Show: Peer-to-Peer Conversations.”
“I think some were going to turn out to be profitable, some won’t be,” Bankman-Fried said. “We had to make snap judgment calls.”
He pointed to a ...
