Ripple able to recruit “clean” former workers
New York City: David Schwartz, the Chief Technical Officer of Ripple, posted a tweet today in which he encouraged former FTX employees who were not involved in the saga involving FTX to consider applying for a position at Ripple, saying that the blockchain payments business is constantly recruiting new employees.
In a dig at the shady goings-on at the cryptocurrency exchange, the well-known co-creator of the XRP Ledger did highlight a few exclusions, saying that Ripple wanted nothing to do with the compliance, finance, or business ethics team at FTX. However, despite stating the employment offer, the well-known co-creator of the XRP Ledger did highlight the employment offer.
Ripple seriously contemplated purchasing FTX but was unable to do so due to insufficient cash.
In a twist of irony, David tweeted that Ripple intended to purchase the struggling FTX exchange. However, Ripple got into problems due of an unexpected lack of funds, which is a reference to the fact that FTX needs $8 billion to remain operational. Schwartz went so far as to say that he would have acquired the failing exchange personally if he had found the $8 billion needed to do so.
It is vital to remember that the company is looking for new employees despite the fact that the Chief Technical Officer of Ripple tweeted something that seemed to be funny. At least 150 positions are open for employment inside the company, as stated in the recruiting requirements for the company.
According to a message that was sent out via the official Twitter accounts of the exchange, the company has already received a line of credit from Tron in order to give liquidity for tokens that are related to TRX. In his most recent statement, Tron’s Justin sun underscored the fact that his team and FTX were trying to restore normality to the Tron network.
Recent reports and data found on the blockchain suggest that the cryptocurrency exchange has begun processing withdrawal requests. The cryptocurrency exchange reportedly at first only allowed Bahamian users to make withdrawals, as part of an effort to demonstrate that it complies with the laws of the Bahamas.
On Monday, SBF provided users with reassurances on the safety of the exchange and the assets it holds. However, contrary to what was reported by Dirty Bubble Media, a bank run caused by Changpeng Zhao’s announcement that Binance intended to sell off its FTT holdings demonstrated that the exchange lacked sufficient liquidity.
Notably, SBF made an effort at an apology yesterday after a long dialogue on Twitter for the inappropriate usage of about $8 billion in user assets. SBF has indicated that he is attempting to secure lines of credit in order to guarantee that individuals will receive their investments. When the CEO of FTX wrote “Well done; you won,” it seemed to be a controversial subtweet directed at CZ..
In spite of the efforts made by the company to eventually reopen the services to all of its customers around the world, users appear to have lost all faith in the exchange as a result of the crisis. It is important to note that this is not the first time this week that the conversation has reassured customers.
Stuart Alderoty, the legal representative for Ripple, provided his insight regarding the remark made by the chair of the SEC. He claimed that these worn-out runways are the only ones running out, which is a fallacious talking point from Gensler.
He continued by stating that the industry’s regulation is influenced by the desire of the chair of the SEC to acquire more power. According to what he said, the consequences of this situation are having a significant negative impact on the nation’s finances.
Gensler asserts that investors in the region desired a higher level of security. According to him, regulations still need to be followed even though there is a significant amount of noncompliance in the market. He concluded by stating that investors all over the world lose money because the public is easily swayed by promotion.
The SEC has already started looking into the US division of FTX. The commission also looks into any connections between FTX and other SBF-related businesses.