Crypto Abuzz as SBF Makes ‘Worst Is Over’ Remark

  • Sam Bankman-Fried said the worst of the liquidity crunch is over.
  • FTX has purchased BlockFi for $25 million.
  • FTX also partnered with Ledger to enable exchange users to swap using Ledger Live.

The crypto market is hyped anew as FTX CEO Sam Bankman-Fried said bullish remarks on top of major announcements. In an interview with CNN, Bankman-Fried, more popularly known simply as SBF, said that the worst of the liquidity crunch is over.

SBF referred to the demise of various cryptocurrency and blockchain firms as a result of the ongoing crypto winter. He implied that these struggling firms have either contributed to or have been affected by the massive shakeup. On the bright side, he believes that the market bottom is nearly in.

As a result, Crypto Twitter is alive once more with posts including #InSamWeTrust, borrowing from the official motto of the US.

For those who are not aware of the $2 billion reference, SBF also said in the interview that FTX has a couple of billion dollars to spare to support crypto companies. In fact, FTX has purchased beleaguered BlockFi for $25 million.

In other news, FTX has partnered with Ledger, one of the leading cold wallets in the world. As part of the partnership, FTX users will now be able to swap cryptocurrency using Ledger Live.
“This partnership means that you can now swap 120+ digital assets with low fees, under self-custody and world-class security,” Ledger CEO Pascal Gauthier said. “In other words, you can now combine the smoothness of a leading exchange with the security of Ledger products. It’s the best of both worlds.”

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.