SBF Called CEO of Ripple Just Days Before FTX’s Collapse, Here Was His Response• November 20, 2022 9:38 am • Comments
CEO of Ripple Brad Garlinghouse received an unexpected call from the now disgraced founder of FTX Sam Bankman-Fried just days before FTX filed for chapter 11 bankruptcy.
Garlinghouse told the Sunday Times, SBF called him and asked if Ripple would be interested in buying some of FTX’s assets.
In response to SBF’s question, Garlinghouse stated “Part of my conversation was if he needs liquidity, maybe there are businesses that he has bought or he has that we would want to own. Would we have bought some of those from him? I definitely think that was on the table,”
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Garlinghouse would later tell the Sunday Times it would be a harder path to buy FTX’s assets now due to the defunct cryptocurrency compnay filing for chapter 11 bankruptcy.
Our 6th annual #RippleSwell is underway! I took the stage this morning with @cnbcKaren to discuss all things Ripple, crypto utility, macroeconomic factors affecting crypto, and much more. A thread… pic.twitter.com/EDHW3nyka8
— Brad Garlinghouse (@bgarlinghouse) November 16, 2022
— Mr. Whale 🐳 whalechart.org (@WhaleChart) November 20, 2022
Coin Telegraph shared these details:
Ripple CEO Brad Garlinghouse is reportedly interested in buying certain parts of collapsed crypto exchange FTX.
On the sidelines of Ripple’s Swell conference in London — was held on Nov. 16 and 17 — Garlinghouse told The Sunday Times that former FTX CEO Sam Bankman-Fried called him two days before the company filed for bankruptcy as he sought to round up investors to rescue the business.
The Ripple CEO said that during the call, the two discussed if there were FTX-owned businesses that Ripple “would want to own.”
“Part of my conversation was if he needs liquidity, maybe there’s businesses that he has bought or he has that we would want to own […] Would we have bought some of those from him? I definitely think that was on the table,” he said.
However, Garlinghouse admits that now that FTX has filed for Chapter 11 bankruptcy in the United States, a potential transaction for an FTX business will be “very different than it would have been one-to-one.”
“I’m not saying we won’t look at those things – I’m sure we will. But it’s a harder path to transact,” he added.
Approximately 130 companies affiliated with FTX, including FTX.US, were included in the bankruptcy filing in Delaware.
#Ripple CEO Brad Garlinghouse says they’re interested in buying FTX assets and parts that served business customers, as well as its stakes in other companies. There are about 100 companies affiliated with FTXhttps://t.co/C5Ia8XrRaH
— XRPcryptowolf (@XRPcryptowolf) November 19, 2022
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