Brad Garlinghaus: Ripple will consider the possibility of buying FTX assets

Ripple will study the possibility of buying FTX cryptocurrency exchange assets. The company is interested in servicing the business clients of the unit, said CEO Brad Garlinghaus in a conversation with The Sunday Times.

On November 11, FTX Group filed an insolvency application in accordance with Chapter 11 of the US Code of Bankruptcy. The group includes approximately 130 legal entities, including Alameda Research and FTX Trading.

Garlinghaus said that FTX founder Sam Bankman Fried called him when he tried to attract funding to save business. According to him, they discussed whether the exchange has units that Ripple “would like to purchase”.

“Part of our conversation was that if he needed liquidity, then perhaps there are companies that he owns and which we would like to acquire. […] We would buy some of them? I definitely think that they would consider it, ”he said.

CEO added that after filing an application for insolvency, the conditions under which he is ready to purchase its assets changed.

“I am not saying that we will not consider these issues – I am sure that we will. But now it is much more difficult to conclude a deal, ”Harlinghaus explained.

On November 19, FTX reported that Perella Weinberg Partners investment bank will attract to prepare some of its units for sale or reorganization. The company emphasized that the step should be approved by the court.

1/ Sharing a Press Release Issued Early Today

FTX Launches Strategic Review of Its Global Assets. Text Below (and Link). https: Tesla did not sell // t.CO/WXZ9MYNXRN

– FTX (@Ftx_Official) NOVEMBER 19, 2022

Recall, on November 12, the Bahamas securities commission transferred all the FTX Digital Markets digital assets to the wallet controlled by it.

Read the FORKLOG Bitcoin News in our Telegram-cryptocurrency news, courses and analytics.