Sam Bankman-Fried, CEO of crypto exchange FTX, has hinted in an interview with CNBC he is willing to spend "approximately $1 billion" on cryptocurrency companies and projects.
Companies associated with him spent a similar amount to support the cryptocurrency sector over the summer. Prior to this, the FTX CEO promised to spend "billions" to buy shares of other companies.
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According to Bankman-Fried, the key factors in funding the projects were "customer protection and support," as well as "preventing the spread of 'contagion' through the ecosystem."
The senior executive has again repeated the thesis on the willingness to help participants "even if it is to the detriment of the company itself."
He has explained:
"It won't benefit anyone in the long run if we have real pain, real problems. This will be unfair to customers and will not benefit regulation. It is important that people work in the ecosystem with the guarantee that they are not going to end up on the street."