The economic crisis in crypto is waning, FTX co-founder and CEO Sam Bankman-Fried thinks. He noted in an interview on Axios Pro Thursday that he is not getting \u201ca ton of calls\u201d from distressed businesses, as he was in the first weeks of the so-called crypto winter. Given a positive economic macro-environment, recovery could be \u201cremarkably fast,\u201d he said.<\/p>\n
FTX is \u201cwilling to lose a little\u201d in its role as lender of last resort, Bankman-Fried said. He noted that $70 million of the loan worth approximately $500 million Bankman-Fried\u2019s Alameda Research made to Voyager Digital was junior to customer assets and could be lost. <\/p>\n
Nonetheless, Bankman-Fried said he expects FTX to turn a profit every quarter this year. FTX profits are \u201crunning kind of roughly in line with last year,\u201d and the company has gained market share in the last few months. FTX rejected the idea of adding Bitcoin (BTC) to its treasury, Bankman-Fried also said, but would have considered it in the range of $15,000.<\/p>\n
FTX US\u2019s quest to expand its suite of financial products in the United States has made progress in the last year, and there are \u201ctens of thousands\u201d of people on the waitlist, Bankman-Fried said. FTX is in the market for an equities clearing firm, to go along with its acquisition of Embed Financial Technologies last month and its strategic investment inU.S. national stock exchange Investors Exchange (IEX).<\/p>\n