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SBF denies FTX is eyeing distressed crypto mining companies

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Sam Bankman-Fried, the founder of crypto exchange FTX, has calmed speculation that the company is exploring acquisitions of distressed crypto mining companies, clarifying on Twitter on Saturday that they “aren’t really looking into the space.”“Really not sure why the meme about FTX and mining companies is spreading, the actual quote was that we *aren't* really looking into the space,” clarified Bankman-Fried on Twitter on July 2.

Speculation that the company was on the lookout for mining firms came from an interview with Bloomberg on July 1, after the FTX founder said he did not want to discount the possibility of a “compelling opportunity” in the mining industry, stating: However, the quote appears to have been taken out of context, forcing SBF to clarify that the firm is “not particularly looking at miners” but is “happy to have conversations” with mining companies.

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