Ripple CEO Brad Garlinghouse is reportedly interested in buying certain parts of the collapsed FTX cryptocurrency exchange.
On the sidelines of Ripple’s Swell conference in London —which was held on November 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 was trying to rally investors to rescue the business.
Our 6th annual #RippleSwell is underground! 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
Our sixth annual #RippleSwell is underway! I took the stage this morning with @cnbcKaren to discuss all things Ripple, the utility of cryptocurrencies, macroeconomic factors affecting cryptocurrencies and much more. A thread…
Ripple’s CEO said that during the call, the two discussed whether there were any businesses owned by FTX that Ripple “would want to own.”
“Part of my conversation was if you need liquidity, maybe there are businesses that you’ve bought or have that we’d like to own. […] Would we have bought some of them from him? I definitely think that was on the table,” he said.
Nevertheless, Garlinghouse admits that now that FTX has filed for Chapter 11 bankruptcy in the United States, a potential transaction of an FTX business will be “very different than it would have been on a one-on-one basis.”
“I’m not saying we’re not going to look at those things: I’m sure we will. But it’s a harder road to travel,” he added.
Approximately 130 FTX-affiliated companies, including FTX.US, filed for bankruptcy in Delaware.
Affiliates not included in the proceeding include cryptocurrency clearinghouse LedgerX, FTX Digital Markets, FTX Australia Pty, and payment processor FTX Express Pay.
Garlinghouse said it would be interested in buying parts that serve business customers.
Cointelegraph has reached out to Ripple for additional comment, but has not heard back at press time.
It seems that Ripple executives, like many in the industry, are following the latest developments in the FTX saga.
On Nov. 10, Ripple CTO David Schwartz addressed a message on Twitter to FTX employees, suggesting that there would be room at Ripple for them, as long as they are not involved in compliance, finance, or ethics. business”.
hey @FTX_Official employees not involved in compliance, finance, or business ethics:@Ripple is always hiring.
—David “JoelKatz” Schwartz (@JoelKatz) November 10, 2022
Hello @FTX_Official employees not involved in compliance, finance or business ethics – @Ripple is always hiring.
FTX has recently appointed restructuring administration firm Kroll as its agent to track all claims against FTX and ensure that interested parties are notified of developments throughout its Chapter 11 bankruptcy case.
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