By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CoinworldstoryCoinworldstoryCoinworldstory
  • HOME
  • CRYPTO
    • AI
    • BOTS
    • ICO
    • AIRDROP
      • Featured Airdrops
    • Price Prediction
    • EXCHANGE
      • Best Centralized Exchange List 2025
      • Best Decentralized Exchange List 2025
    • ALTCOIN
    • Alt Coin Signal
    • Crypto Analysis
    • Bitcoin Loan
    • Bitcoin Mining
    • WALLETPRO
  • PR
    PR
    If You Looking For Submit Cryptocurrency Press Releases Than Coinworldstory Is Best Choice For Crypto Press Release Submission
    Show More
    Top News
    fanchain
    SportsCastr Announces Private Token Sale for FanChain
    2 years ago
    Nodis, The Gamified Platform For Online Marketing And Influencers
    Nodis, The Gamified Platform For Online Marketing And Influencers
    2 years ago
    Mt. Perelin Chooses Tezos for Tokenized Securities
    3 years ago
    Latest News
    Codego Launches Whitelabel Devices Bringing Tokens Into Daily Life
    2 hours ago
    Solo Leveling Levels Up: Korean Billion-Dollar Megafranchise Goes Onchain with Story
    16 hours ago
    SimpleFX Relaunches First Deposit Bonus
    21 hours ago
    TokenFi and New to The Street Announce National Media Partnership to Reach 219M+ Households
    22 hours ago
  • NEWS
    • Mining
    • Altcoins
    • Ban
    • BANKING/FINANCE NEWS
    • Bitcoin
    • Blockchain
    • CRYPTO CRIME
    • Ethereum
    • Exchange News
    • Government News
    NEWSShow More
    Why Shiba Inu Large Transaction Volume Is Dropping Fast
    Why Shiba Inu Large Transaction Volume Is Dropping Fast
    3 weeks ago
    Crypto Tax Rules In Russia – What You Should Know
    Crypto Tax Rules In Russia – What You Should Know
    1 month ago
    Elon Musk Considering Blockchain To Bolster us Government Efficiency
    Elon Musk Considering Blockchain To Bolster us Government Efficiency
    1 month ago
    10 Next Big Meme Coin To Explode
    10 Next Big Meme Coin To Explode
    1 month ago
    9 Best AI-Powered Websites That Save You Hours of Work
    9 Best AI-Powered Websites That Save You Hours of Work
    2 months ago
  • GAMBLE
    • Certified Casinos
    • Bitcoin Casino
    GAMBLE
    If You Looking For Casino Review . Than we Write Many Article About Casino Please Look This Page . We Update This Page On Daily…
    Show More
    Top News
    Pulsz.com Casino Review: Is Pulsz A Legit Casino?
    Pulsz.com Casino Review: Is Pulsz A Legit Casino?
    2 weeks ago
    Bit4win Casino Review : Latest 2023 Review
    Bit4win Casino Review: Latest 2023 Review
    2 years ago
    Yukon Gold Casino Rewards
    Yukon Gold Casino Rewards – Read Everything About This
    2 years ago
    Latest News
    Unlim Casino 2025 – Games, Bonuses & Crypto Payments
    4 weeks ago
    1win Casino Games – Exciting Slots, Crash Games & Bonuses
    4 weeks ago
    Pinco Casino Review: Games, Bonuses & Features
    4 weeks ago
    r7 Casino Review: Login, Sign Up, Bonuses & Promotions
    3 weeks ago
  • MORE
    • Guide
    • Only Best
    • Off Topic
    • Web Hosting
    • Ad Posting Jobs
    • Best Affiliate Marketing
    • Best Affiliate Programs
    • BOTS
    • Trusted Currency Exchanger Platform
    • Blockchain Games
    • Metaverse Review : Best Metaverse Program Review
    • Online Survey
    • Payment Platform
  • VPN
  • Contact Us
Reading: SBF spends $250 million to extend the life of BlockFi! SEC Commissioner’s Statement: Oppose Bailouts
Share
Notification Show More
Font ResizerAa
CoinworldstoryCoinworldstory
Font ResizerAa
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
Search
  • HOME
  • CRYPTO
    • AI
    • BOTS
    • ICO
    • AIRDROP
    • Price Prediction
    • EXCHANGE
    • ALTCOIN
    • Alt Coin Signal
    • Crypto Analysis
    • Bitcoin Loan
    • Bitcoin Mining
    • WALLETPRO
  • PR
  • NEWS
    • Mining
    • Altcoins
    • Ban
    • BANKING/FINANCE NEWS
    • Bitcoin
    • Blockchain
    • CRYPTO CRIME
    • Ethereum
    • Exchange News
    • Government News
  • GAMBLE
    • Certified Casinos
    • Bitcoin Casino
  • MORE
    • Guide
    • Only Best
    • Off Topic
    • Web Hosting
    • Ad Posting Jobs
    • Best Affiliate Marketing
    • Best Affiliate Programs
    • BOTS
    • Trusted Currency Exchanger Platform
    • Blockchain Games
    • Metaverse Review : Best Metaverse Program Review
    • Online Survey
    • Payment Platform
  • VPN
  • Contact Us
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Home » Blog » SBF spends $250 million to extend the life of BlockFi! SEC Commissioner’s Statement: Oppose Bailouts
Blockchain

SBF spends $250 million to extend the life of BlockFi! SEC Commissioner’s Statement: Oppose Bailouts

News Expert
Last updated: 22/06/2022 11:48 AM
News Expert
3 years ago
Share
Disclosure: We are not a registered broker-dealer or an investment advisor. The services and information we offer are for sophisticated investors, and do not constitute personal investment advice, which of necessity must be tailored to your particular means and needs. !
SBF spends $250 million to extend the life of BlockFi! SEC Commissioner's Statement: Oppose Bailouts
SHARE

Sam Bankman-Fried (SBF), a 30-year-old billionaire and co-founder of digital asset exchange FTX Trading, is providing lines of credit for players in the cryptocurrency space. The latest is to lend a helping hand to cryptocurrency lending platform BlockFi in an attempt to curb cryptocurrencies. The situation that the industry is in trouble is spreading.

BlockFi, whose fundraising status shows an increasingly low valuation, said on June 21 that it had secured a $250 million revolving line of credit from FTX

Cryptocurrency exchange Voyager Digital also secured a $200 million line of credit last week, consisting of cash and USDC stablecoins, as well as 15,000 bitcoin revolving credits from SBF’s trading firm, Alameda Research. Shares in the TSX-listed company have collapsed 90 percent this year.

A wave of liquidations has sparked fears of contagion in the cryptocurrency industry, following a sharp sell-off of digital assets by investors and the collapse of LUNA and UST. In addition, cryptocurrency lenders Celsius and Babel Finance have frozen withdrawals, and cryptocurrency hedge fund Three Arrows Capital is facing liquidity issues.

- Advertisement -

Anthony Scaramucci, founder of SkyBridge Capital, said Sam Bankman-Fried’s bailout was like a “modern day John Pierpoint Morgan (founder of JPMorgan Chase)” who bailed out the market during the 1907 crisis, when the banking industry panicked and contributed to the U.S. The establishment of the Fed system.

In response to media inquiries, an FTX spokesperson quoted Sam Bankman-Fried’s June 21 Twitter post, ” We take our responsibility seriously to protect the digital asset ecosystem and its customers.”

Sam Bankman-Fried said in a recent interview that he has a responsibility to step in to stem the contagion and help the industry thrive, ” even if it costs me something.”

“Over the past weekend, it was important to find a white knight who can help stabilize this market ,” Jeff Dorman, chief investment officer at asset manager Arca, said in a report Tuesday . And there are many players who are encouraged to make sure the industry doesn’t collapse.”

Large cryptocurrency companies have a history of bail-out of troubled peers.

- Advertisement -

FTX last year provided $120 million in loan financing to the hacked Japanese cryptocurrency exchange Liquid Group, and later acquired Liquid.

Binance led a $150 million bailout in April to help gaming company Axie Infinity recover user funds affected by the hack.

Noel Hebert, head of credit research at Bloomberg Intelligence, said Sam Bankman-Fried’s latest financing is not in the same situation as private equity firms are funding distressed companies. Players within the cryptocurrency industry, he said, are the only ones with an incentive to lend right now.

- Advertisement -

However, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has opposed any bailouts of cryptocurrency companies, arguing that it is better to let these things happen naturally in order to promote a more stable industry.

Hester Peirce, the most pro-cryptocurrency commissioner in the SEC , expressed her views on the recent collapse of the cryptocurrency industry, saying that this situation is distinguishing the healthy and weak cryptocurrency companies, and she does not support any views on the cryptocurrency industry. Companies provide assistance, especially those who have mismanaged their risks and are overleveraged.

SEC Approves In-Kind Redemptions for Bitcoin, Ethereum ETFs to Cut Costs
South Korea’s FSS Pressures Asset Managers to Cut Exposure to Crypto-Linked ETFs
Coinbase Just Unlocked Perpetual Futures for U.S. Traders After Years of Restrictions
Trump Signs ‘GENIUS Act’ into Law-Shakes Up Global Crypto with First U.S. Stablecoin Regulation
GENIUS Act Heads to Trump’s Desk as House Approves Stablecoin Regulation Framework
Share This Article
Facebook Email Print
Previous Article Central Bank of Taiwan: NFTs have low liquidity and high risks, and are not suitable for public investment Central Bank of Taiwan: NFTs have low liquidity and high risks, and are not suitable for public investment
Next Article What Is Dungeon (DGN)? Complete Guide & Review About Dungeon What Is Dungeon (DGN)? Complete Guide & Review About Dungeon
10 Best Crypto Exchanges for Easy Recurring Buys 2025
10 Best Crypto Exchanges for Easy Recurring Buys 2025
Best Centralized Exchange List 2025
10 Best Prop Firms in South Africa for Funded Traders
10 Best Prop Firms in South Africa for Funded Traders
Prop Firm
Codego Launches Whitelabel Devices Bringing Tokens Into Daily Life
Press Releases
Solo Leveling Levels Up: Korean Billion-Dollar Megafranchise Goes Onchain with Story
Press Releases

Latest Published

GMX Hacker Returns $10M, Eyes $5M Bounty While Sitting on $3M Profit—Will They Give It All Back?

GMX Hacker Returns $10M, Eyes $5M Bounty While Sitting on $3M Profit—Will They Give It All Back?

3 months ago
Metaplanet Eyes Major Acquisition After Expanding Bitcoin Holdings

Metaplanet Eyes Major Acquisition After Expanding Bitcoin Holdings

3 months ago
South Korea Strengthens Focus on Stablecoin Regulation

South Korea Strengthens Focus on Stablecoin Regulation

3 months ago
Coinbase Broadens Crypto Access in Germany with Two New Token Listings

Coinbase Broadens Crypto Access in Germany with Two New Token Listings

3 months ago
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
What Is Solana? A Complete Guide to the Fast and Scalable Blockchain
What Is Solana? A Complete Guide to the Fast and Scalable Blockchain
Trending
10 Best Shoes For Bunions – Comfort, Support & Pain Relief
10 Best Shoes For Bunions – Comfort, Support & Pain Relief
Trending
10 Best Macroeconomics Books-for Students and Professionals
10 Best Macroeconomics Books-for Students and Professionals
Trending
CoinworldstoryCoinworldstory
Follow US
© Coinworldstory News Network. Cws Design Company. All Rights Reserved.
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..
[mc4wp_form]
Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?