Blockchain

Ripple considers FTX trades Garlinghouse

It has been claimed that the CEO of Ripple, Brad Garlinghouse, is considering purchasing key aspects of the defunct cryptocurrency exchange FTX. 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 conference was held on November 16 and 17, and it took place on the sidelines of Ripple's Swell conference in London, which took place on November 16 and 17.

During the call, according to the CEO of Ripple, the two discussed whether or not there were any FTX-owned firms that Ripple might acquire "would have a desire to possess.

Garlinghouse does concede, however, that in light of FTX's recent decision to file for bankruptcy under Chapter 11 in the United States, any potential transaction involving an FTX business will be more difficult "a radical departure from how things would have been done one-on-one.

"It's not that I don't think we'll take a look at those things; I'm certain we will.

However, it is a more difficult road to transact, "he continued.

There were around 130 firms connected to FTX that were listed in the bankruptcy petition that was filed in Delaware. One of the companies was FTX.US.

Garlinghouse expressed his interest in purchasing the components that were geared toward catering to corporate clients.

It would seem that the executives at Ripple, like with many others in the sector, are keeping up with the most recent developments in the situation involving FTX.

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