FTX CEO “Uplifted”, Green Color Returned To The Market?

New statements released by FTX CEO Sam Bankman-Fried (SBF) are said to be the reason for making the green again in the market after falling so much.

FTX CEO “hidden” helped the market?

Specifically, on the afternoon of June 19, FTX CEO Sam Bankman-Fried (SBF) revealed that he had participated in an interview and shared his personal thoughts on the current situation of the crypto sector. The FTX CEO attributed the common cause of the decline in both the stock and crypto markets to the regulatory actions of the Fed. Widespread panic, he said, is unlikely.

However, Mr. Sam Bankman-Fried “hidden” about having participated in the “rescue” of crypto companies that were struggling this past week. He said:

“I feel obliged to seriously consider lifting the market, even if it means losing money, to prevent a domino effect. Although we are not the ones causing the current crisis, or being affected by it. I think that’s going to be good for the ecosystem and I want to do something that can help it grow and thrive.”

The FTX CEO gave the example of giving Liquid, a Japanese exchange that was hacked and stolen more than $85 million in August 2021, a loan of $120 million to repair the damage. FTX then acquired Liquid and turned it into a branch in the country of the rising sun with the name FTX Japan.

Alameda Research, an investment fund with close ties to FTX, was revealed late last week to have loaned investment brokerage Voyager Digital up to $485 million in cryptocurrency (value at time of publication) to fund investment liquidity guarantee, suggesting that Mr. Bankman-Fried’s claim may have happened.

On Twitter, the CEO of FTX also made some personal comments:

This can be seen as the first time Mr. Sam Bankman-Fried has spoken since the market’s dump began on June 10, after a long period of “silence”. When the market recovered clearly after that. And also coincidentally, on the afternoon of June 19, many Twitter users came across information that the Jump Crypto fund transferred 122 million USDC to FTX to prepare to “catch the bottom”.

Green color returns to the market

By the evening of June 19 and the morning of June 20, the market had a slight recovery. BTC surged to $20,815, while ETH even made an impressive surge to $1,158.

Market capitalization has also returned to the threshold of $907 billion. Total liquidation in the last 12 hours is nearly 138 million USD, with a rate of short burned up to 79%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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