Bankman-Fried says his firms may deploy 'hundreds of millions' to backstop struggling crypto industry

Quick Take

  • FTX CEO Sam Bankman-Fried told CNBC that he would be willing to spend “hundreds of millions beyond what we have thus far and in some cases more than that” to backstop firms affected by crypto’s recent market crash.
  • The interview comes days after Bloomberg reported that FTX and FTX US are in talks to raise fresh funds, following a spending spree that saw the firm deploy nearly $1 billion over two weeks in June.