While billionaire Sam Bankman-Fried is on a buying spree in crypto space, the community responded to it with mixed reactions.
Capital Injection In Turbulent Times
A section of crypto community dubbed it as a life saving move for the industry that is faced with serial setbacks. In the last few months, the crypto space was faced with multiple hurdles which began with the crash of Terra network.
Meanwhile, the FTX CEO continues to acquire crypto companies while many projects look for capital injection. After initially extending a credit facility of $250 million to BlockFi, the CEO is close to acquire BlockFi for a mere $25 million.
Last month, FTX made inroads to Canadian markets by acquiring crypto exchange Bitvo. The terms for the deal, however, were not known.
Too Much Decentralization For Too Few Hands?
On the other side, a section of crypto felt Sam Bankman-Fried’s buying spree was not helping crypto’s decentralized structure. Alan Graham, a crypto enthusiast, tweeted sarcastically:
