Ripple will also acquire a portion of FTX - Kryptoworld

Ripple will also acquire a portion of FTX – Kryptoworld

Brad Garlinghouse, the head of Ripple, said that they would see the imagination in some of the FTX affiliates and could incorporate it into their business.

The ripple He held an event in London this week, where Garlinghouse spoke to the press They betrayed himThey had already negotiated with the head of FTX, Sam Bankman-Fried, even before bankruptcy for business purposes, regarding investments.

A couple of companies that FTX owns are mentioned, but that could also be interesting for Ripple.

“During the conversation, of course, the topic also came up, that if they need liquidity, there are certainly companies within the ranks of FTX, whether they are self-employed or acquired companies, that might be of interest to us as well. How do we buy these? I guess I can say that’s The question was raised seriously. But now the situation is different because of the bankruptcy proceedings. I’m not saying that it is no longer interesting to us, because it is, but now it will be a more difficult path.

Due to a bankruptcy filing in the US, FTX must go through the formal liquidation process.

The same applies to approximately 130 different companies in their field of interest.

For this reason, the potential valuation of companies has become orders of magnitude more complicated until the legal situation is settled.

See also  "From now on, the epidemic in Hungary will rise significantly"

However, some of the exchange’s affiliates are not involved in bankruptcy proceedings, such as LedgerX, FTX Digital Markets, FTX Australia, or payment service provider FTX Express Pay.

On the other hand, Garlinghouse did not name any companies, merely saying that they are interested in companies that could be beneficial to Ripple’s clients.

However, he did not disclose more details to the press.

However, it is clear that Ripple’s top management is also keeping an eye on the state of FTX.

On the tenth day, the company’s chief technology officer, David Schwartz, tweeted to FTX employees that an office at Ripple could also be waiting for them, but only for those who are not affected by the current situation.

FTX is working with Kroll on the bankruptcy process, which will identify all creditors’ claims and ensure all parties involved have the correct information.


Would you like to receive our latest news? Subscribe to our newsletter!

Leave a Reply

Your email address will not be published.