SBF Thinks Worst of Crypto Winter is Over, and Says FTX Has 'A Few Billion' for Bailouts

SBF said his main motivation with bailouts was to help protect customer assets, and stop a dreaded crypto contagion.

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Sam Bankman-Fried believes we may have reached the darkest depths of the crypto winter.

In an interview with Reuters, he argued that prices have stabilized — but he conceded that wider macroeconomic conditions could cause further falls.

The FTX CEO also revealed that his company has a "few billion" available to support struggling companies across the sector.

SBF said his main motivation with bailouts was to help protect customer assets, and stop a dreaded crypto contagion, where one company's collapse has ramifications for others.

He stressed that, in cases where it doesn't make business sense for FTX to intervene, the billionaire was prepared to "incinerate" his own money.

Bankman-Fried's net worth is believed to have taken a substantial hit as a result of the bear market, with some estimates suggesting that it may have plunged to $12 billion — down 50% on where it was.