The rumors arose earlier this month after the publication of a report by the Bloomberg news agency in which it claimed that the founder of Huobi Group.
Leon Li held talks with some industry representatives to sell a majority percentage of the exchange’s shares. There they pointed out that Bankman-Fried was among those interested, accompanied by the founder of TRON, Justin Sun.
On the other hand, the rumors also gained strength in light of certain reports that Huobi was also experiencing operational difficulties after the market crash, so there were plans to reduce its employee base to be able to assume this bearish scenario associated with winter. crypto.
Bankman-Fried, FTX and other purchase rumors
Since the crypto winter is taking its toll on the main companies in the ecosystem, both FTX and Bankman-Fried have been at the center of certain rumors on several occasions.
Months ago, rumors also surfaced about FTX’s alleged interest in acquiring stock and cryptocurrency trading company Robinhood. However, Bankman-Fried stepped in and denied such allegations.
Other recently published reports also speak of a possible purchase of the Korean exchange Bithumb, although there have been no further details on this subject.
But on other occasions the rumors have been true, since the exchange is finalizing the acquisition of BlockFi, the cryptocurrency-based financial services platform. This was made up by Zac Prince himself, CEO of the company, who revealed that the estimated amount would be about USD $240 million, which is added to the previously agreed credit lines and financing.
It is also known that FTX proposed a purchase offer for the Voyager Digital service, but one of the company’s lawyers revealed that the exchange offered the lowest number among those on the table, which is why they rejected their commercial offer.
It is no secret to anyone that Bankman-Fried and its exchange are taking advantage of the bearish scenario to materialize the expansion plans of FTX, a company that has been making important alliances in the middle of crypto winter.
At the time, the CEO of FTX revealed that they had “several billion” to support companies in the crypto sector, this through lines of credit and strategic associations to help important participants in the ecosystem. In turn, Bankman-Fried assured that there are several reputable companies in the sector that are secretly insolvent, for which he reinforced the narrative of doing everything possible for the benefit of the crypto market, thinking about the future.
However, several critics assure that Bankman-Fried’s intentions are not entirely altruistic, since they would be taking advantage of the insolvency and readjustment of some companies in the sector to acquire consolidated entities at low cost.
This same point was made by Voyager Digital’s lawyer, who questioned that the CEO of FTX acted motivated by noble goals, and that he only took advantage of the scenario to deepen the exchange’s expansion plans.
Regardless of the nature of such acts, Bankman-Fried called on other entities in the industry to support companies that have been affected by the market crash.