Sam Bankman-Fried Rejects Rumors Of Acquiring Crypto Mining Companies

Not merely participating in the rescue of crypto platforms in terms of lending, FTX CEO Sam Bankman-Fried is also said to be targeting cryptocurrency miners. He has spoken out to deny the rumors.
Sam Bankman-Fried Rejects Rumors Of Acquiring Crypto Mining Companies

Specifically, FTX CEO Sam Bankman-Fried has denied many rumors that FTX is exploring acquisitions of the troubled cryptocurrency mining company through a tweet on July 3:

Perhaps, all the speculation comes from Mr. Sam Bankman-Fried’s interview with Bloomberg on July 1, after the CEO of FTX said he didn’t want to miss the possibility of an exciting opportunity in the mining industry.

However, the quote of the CEO of FTX seems to have been slightly “exaggerated” by Bloomberg, forcing him to clarify that the company is not particularly interested in miners but is happy to have the opportunity to sit down and chat with the mining company.

At the same time, Mr. Sam Bankman-Fried also affirmed that miners are not suitable for the company’s core strategy for FTX to be able to target acquisition.

“I don’t see any particular reasons that we need to have, you know, an integration with a crypto miner.”

Considering the current state of the mining industry, investors have every reason to believe in the theory just mentioned. Bitcoin miners have been recording a significant decline since March 2020.

Coincu will continue to update the situation related to SBF, you can find out more information through this article.

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