- The chief executive officer of Ripple, Brad Garlinghouse wants to purchase some portions of the bankrupt crypto exchange FTX.
- Sam Bankman-Fried interacted with Brad Garlingson two days prior to the company filing for bankruptcy
In the Ripple Swell Conference which was organized on November 16 and 17, Garlinghouse stated to The Sunday Times that the ex-CEO of FTX, Sam Bankman-Fried interacted with him two days prior to the company filing for bankruptcy as he looked to assemble investors to save the business.
On November 16, Brad Garlingson tweeted “Our 6th annual rippleswell is ongoing. I took the stage stage today with Karen Tso to discuss all things Ripple, crypto utility, macroeconomic factors affecting crypto, and much more.”
Brad Garlingson stated that at the time of the call, both discussed if there was FTX owned business that Ripple wants to purchase.”
“My conversation included that if he wants assets, maybe there are businesses that he purchased or he wants to purchase it. Undoubtedly, I think that it was an option, that could be further negotiated.”
Although, Garlinghouse accepts that now that FTX has filed for bankruptcy, the things for an FTX business will be “totally different than it would have been individually.
“I am not stating that we will not look over those things, I am confident that we will. But the path is not so easy,” he further stated.
Garlingson’s interest
In the bankruptcy filing in Delaware, about 130 companies linked to FTX, were listed. Some branches that are not indulged in the case are crypto clearinghouseLedgerX, FTX Digital Markets, FTX Australia Pty and payments processor FTX Express Pay.
Garlinghouse admitted that he will be purchasing the portions that served business customers.
It seems like Ripple’s officials, similar to many in the industry, are going according to the newest developments of the FTX saga.
On November 10, the CTO of Ripple, David Schwartz, posted a Tweet in which he pointed towards staffs of FTX, advising that there will be space at Ripple for them, as they are not indulged in consent, finance or buisness principles.”
Not so long ago, FTX has allotted restructuring administration company Kroll as its agent to keep an eye over all purports against FTX and make sure interested parties are informed of developments all over its Chapter 11 bankruptcy case.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2022/11/21/ripple-to-acknowledge-deals-for-ftx-assets-ceo/