In an interview with Yahoo Finance, Sam Bankman-Fried had various feedback on the way forward for the FTX change in addition to Bitcoin’s future.
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When requested what number of avenues the change is when it comes to advertising and marketing partnerships, Bankman-Fried stated that he could be mendacity if he stated there weren’t different offers in the pipeline.
“I might be mendacity if I stated there weren’t any extra (partnerships) being deliberate,” stated Bankman-Fried. “Oh I can simply see our brokers texting one another hoping I do not say something proper now. Over the subsequent couple of months, I might be stunned if there weren’t a minimum of yet one more factor popping out.”
The change introduced an enormous partnership with the MLB simply two days in the past that features FTX patches on umpire uniforms and can enable FTX to market itself as a sponsor of the league.
The MLB partnership got here after the change scored an unique partnership with the Miami Heat that additionally successfully renamed the group’s area to ‘FTX Arena.’
Now the CEO is now hinting that a minimum of one different bigger deal on the means. Bankman-Fried additionally had various feedback on the situation of the market.
“On the one hand, I feel the institutional cash continues to be planning to return in. It’s going to be months to years. These are a whole lot of slow-moving cautious establishments which can be making decade-long selections about what they’ll do with their enterprise,” stated Bankman-Fried about the state of the market proper now.
Bankman-Fried additionally stated that he thought some establishments would begin to trickle in now however that it may very well be a 12 months or two earlier than extra of them get entangled.
“I feel we’re going to see some begin to trickle in now however I feel it should be a 12 months or two earlier than a whole lot of them begin getting concerned.”
He additionally added {that a} portion of the selloff has been pushed by over-leveraged lengthy positions which have been liquidated and now not pose a menace.
“Some of this selloff has been pushed by liquidations, leveraged lengthy positions that bought blown out. The potential for these to drive issues down is down. Lots of people that might get liquidated did get liquidated.”
