FTX Crypto Exchange CEO Says Another Huge Partnership Is Underway
In an interview with Yahoo Finance, Sam Bankman-Fried made a number of comments on the future of the FTX exchange as well as the future of Bitcoin.
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When asked how many avenues the exchange is considering in terms of marketing partnerships, Bankman-Fried said he would be lying if he said there were no other deals going on.
“I would be lying if I said there were no more (partnerships) being planned,” Bankman-Fried said. “Oh, I can just see our agents texting each other hoping I didn’t say anything yet. Over the next few months I’d be surprised if there wasn’t at least one more thing coming out. “
The exchange announced a huge partnership with MLB just two days ago that includes FTX patches on referee uniforms and will allow FTX to present itself as a sponsor of the league.
The MLB partnership came after the exchange marked an exclusive partnership with the Miami Heat who also renamed the team’s arena to “FTX Arena.”
Now the CEO is hinting that at least one other bigger deal is on the way. Bankman-Fried also made a number of comments on the state of the market.
“On the one hand, I think the institutional money is still planning to come in. It’s going to take months, if not years. It’s a lot of cautious institutions that evolve slowly and make decisions over a decade on what to do. “they’re gonna do … do with their business,” Bankman-Fried said of the state of the market right now.
Bankman-Fried also said he believes some institutions will start stepping in now, but it may be a year or two before more of them get involved.
“I think we’re going to see some start creeping in now, but I think it will be a year or two before a lot of them start to get involved.”
He also added that part of the sale was due to over-leveraged long positions which were liquidated and no longer pose a threat.
“Part of that sell-off was triggered by sell-offs, leveraged long positions that were blown away. The potential for these to bring things down is dwindling. A lot of people who could be liquidated have been liquidated. . “