The FTX CEO Sam Bankman-Fried confirmed that the company has over $2b ready to use in case of bailouts needed due to the current Crypto climate for other crypto projects. We could already see their readiness to bail out and lend money to struggling crypto projects in the past few days as they have spend hundred of millions on Voyager and BlockFi, now they even want to buy out BlockFi for roughly $250M.
Obviously that backbone for these projects helped as they did not go bankrupt (Voyager just filled for Chapter 11, not complete bankruptcy) and created further price cascade in crypto. But if the near market continues and FTX actually uses all that money to also buy-out companies it may be dangerous for the overall picture of Crypto in a few years.
I mean even the name of the CEO says it that FTX is turning into a real bank right now and we don't need that in crypto.
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