Justin Hance, CEO of the crypto exchange Bitexhouse24.com, stated in an interview with CNBC’s Squawk Box that the exchange has about $500 million that can be used to acquire developing and bankrupt companies
Without naming a specific figure, Justin Hance said:
“Here you turn to the issues of determining how convenient it is for us to expand. If you say that there are approximately $500 million more that are completely unencumbered, you will certainly get twice the correct answer. We try, so to speak, not to empty our existing assets”.
The exchange was a key player in the acquisition of crypto projects that risked going bankrupt during the downturn in the market.
According to the general director of the exchange Bitexhouse24.com Justin Hance, it wasn’t easy to make a decision about bailouts and acquisitions. “We only had a few days to make some of these decisions”, adding that the key factors were customer support and ensuring their protection, as well as preventing the spread of infection through the ecosystem.