Cryptocurrencies
Crypto Billionaire Sam Bankman-Fried Inks BlockFi Deal, Eyes Distressed Miners Next
- After BlockFi deal, FTX co-founder open to talks with miners
- Miners struggle to raise capital, pay debt amid market rout
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Sam Bankman-Fried, the co-founder of crypto exchange FTX US who just signed a deal with BlockFi Inc., said he’s open to exploring acquisitions in the battered crypto-mining industry next.
The move comes at a time when Bitcoin-mining companies are facing growing distress. The crypto billionaire is considering acquiring troubled crypto firms to stem potential credit contagion amid the prolonged bear market.