Ripple CEO Interested in Buying Assets From Bankrupt FTX

Ripple CEO Interested in Buying Assets From Bankrupt FTX
  • Former FTX CEO phoned Brad two days before the firm filed for bankruptcy.
  • About 130 FTX-related entities, including FTX.US, filed for bankruptcy in Delaware.

According to reports, Ripple CEO Brad Garlinghouse is looking into buying assets from defunct cryptocurrency exchange FTX. The conversation, according to Ripple’s CEO, focused on whether or not there were any firms held by FTX that Ripple “would want to own.”

Garlinghouse told The Sunday Times on the sidelines of Ripple’s Swell conference in London (which took place on November 16 and 17) that former FTX CEO Sam Bankman-Fried phoned him two days before the firm filed for bankruptcy to try to bring up investors to save the firm.

The CEO stated:

“Part of my conversation was if he needs liquidity, maybe there’s businesses that he has bought or he has that we would want to own […] Would we have bought some of those from him? I definitely think that was on the table.”

Different Scenario Post Bankruptcy Filed

In light of FTX’s Chapter 11 bankruptcy filing in the United States, Garlinghouse acknowledges that any prospective deal involving an FTX firm would be “very different than it would have been one-to-one.”

About 130 FTX-related entities, including FTX.US, filed for bankruptcy in Delaware. LedgerX, FTX Digital Markets, payments processor FTX Express Pay, and Australian subsidiary FTX Australia Pty are not a part of the proceedings.

Specifically, Garlinghouse said that he was keen on purchasing the parts aimed at serving commercial clients. On November 10th, Ripple’s CTO David Schwartz tweeted a message to FTX workers, indicating that a place for them at Ripple existed so long as they weren’t “involved in compliance, finance, or business ethics.”

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