Ripple CEO Brad Garlinghouse expressed interest in buying companies owned by FTX which currently serve business customers. According to Sunday Times CEO SBF called Garlinghouse prior to FTX going bust in plea for bid. 130 companies are currently associated with FTX in bankruptcy filings. John Ray, the new CEO of FTX, admits that he’s never seen such a complete failure in crypto controls as FTX. Brad Garlinghouse, Ripple CEO, expressed interest in purchasing companies currently held by FTX
Brad Garlinghouse, Ripple CEO, expressed interest in buying companies currently owned by FTX. According to Sunday Times reports, FTX CEO SBF called Garlinghouse prior to FTX going bust in plea for bid. According to bankruptcy filings, there are 130 companies that are associated with FTX. The new FTX CEO John Ray has admitted that he has never witnessed such a failure in crypto controls. Ripple CEO Brad Garlinghouse expressed interest in purchasing businesses currently owned by FTX. According to Sunday Times reports, Ripple’s boss is looking at FTX. This exchange crashed this month, with specific allegations of fraud, mismanagement of user funds, and other issues.
Ripple CEO Brad Garlinghouse confirmed that he is interested in purchasing parts that serve business customers.
Sunday Times reports that FTX’s CEO Sam Bankman Fried called Garlinghouse in an attempt to gather investors to save the company before FTX went bankrupt.
“Part of my conversation with SBF was to ask if he needed liquidity. Maybe he has businesses that he’s bought or that he owns that we would like to own. We might be interested in investments. What would Garlinghouse say for Sunday Times?
According to the bankruptcy proceeding for FTX currently underway, a transaction between Garlinghouse & FTX will be “very differently, than it would’ve been one-to-1,” Garlinghouse continues.
FTX was associated with approximately 130 companies, which were included in bankruptcy filings.
John Ray, the new CEO of the bankruptcy, stated recently in court filings that he has never seen “such an extreme failure of crypto controls” or that there was “complete lack of trustworthy financial information.” John Ray was also responsible for Enron, a former bankrupt giant. According to court filings Ray is paid $1,300 an hour to clean up the mess of the collapsed crypto exchange FTX.