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Ripple CEO Brad Garlinghouse is reportedly interested in buying a piece of the crumbling crypto exchange FTX.
On the sidelines of Ripple’s Swell conference in London on November 16th and 17th Garlinghouse Said The Sunday Times called former FTX CEO Sam Bankman-Fried two days before the company filed for bankruptcy as he tried to rally investors to save the company.
our 6th annual #Ripple Swell In session!i went on stage this morning @cnbc Karen We can discuss everything from Ripple, cryptocurrency utilities, and macroeconomic factors affecting cryptocurrencies. thread pic.twitter.com/EDHW3nyka8
Brad Garlinghouse (@bgarlinghouse) November 16, 2022
Ripple’s CEO said during the call they discussed whether there were any FTX-owned businesses that Ripple would “want to own.”
“Part of my conversation was whether he needed liquidity, maybe he’d acquired or had a business we wanted to own. […] Would you have bought some of them from him? I definitely think it was on the table,” he said.
But Garlinghouse admits that now that FTX has filed for Chapter 11 bankruptcy in the United States, a potential deal for the FTX business is “very different than a one-for-one.”
“I’m not saying we won’t consider those things. We certainly would. But it’s a harder road to trade,” he added.
The Delaware bankruptcy filing included about 130 companies related to FTX, including FTX.US.
Some subsidiaries not included in the process include cryptocurrency clearinghouses LedgerX, FTX Digital Markets, FTX Australia Pty, and payment processor FTX Express Pay.
Garlinghouse said he is interested in purchasing parts to service business customers.
Cointelegraph has reached out to Ripple for additional comment, but has not received a response by the time of publication.
Related: Sam Bankman-Fried Updates Investors: He Was ‘Overconfident and Careless’, Claiming $13 Billion Leverage
Ripple executives, like many in the industry, appear to be following the latest developments in the FTX saga.
On November 10, Ripple’s chief technology officer, David Schwartz, took to Twitter to send a message to FTX employees, telling them that unless they’re involved in compliance, finance, or business ethics, Ripple won’t do anything for them. suggested that there is room for
Hey @FTX_Official Employees not involved in compliance, finance or business ethics:@Ripple We are always hiring.
David “JoelKatz” Schwartz (@JoelKatz) November 10, 2022
FTX recently appointed restructuring management firm Kroll as its agent to track all claims against FTX and ensure that parties are kept informed of developments throughout the Chapter 11 bankruptcy case.
