FTX CEO, Sam Bankman-Fried, also known as SBF, said that the major crypto exchange FTX would not be acquiring a majority ownership stake in Huobi. In a tweet on Monday, SBF expressly refuted a story stating that FTX planned to purchase cryptocurrency exchange Huobi. On August 12, a news source claimed that Huobi co-founder Leon Li was thinking about selling his majority stake in the business, which is worth more than $1 billion. Just to be explicit because apparently a lot of people are saying this: No, we are not planning to acquire Huobi. — SBF (@SBF_FTX) August 29, 2022 FTX, Alameda Want to Prevent Liquidity Issues Under SBF’s direction, FTX and Alameda Research engaged a few times during the bear market to save crypto businesses from having liquidity problems. In a June interview, Bankman-Fried stated that both firms have a responsibility to strongly consider moving in, even if it is at a loss to themselves, to prevent contagion since it would be “good for the ecosystem.” In a subsequent tweet on June 19, he added, “We want to help those we can in the ecosystem and have no interest in hurting them.” lol this is definitely false we want to help those we can in the ecosystem, and have no interest in hurting them — that just hurts us and the whole ecosystem — SBF (@SBF_FTX) June 20, 2022 Alameda presented Voyager Digital with a loan of $200 million in USD Coin (USDC) and a “revolving line of credit” of 15,000 Bitcoin (BTC), w...
