Is it bad that I want to cut off ties with a friend?
Why do you want to stop speaking with them?
He only talks to me only when he needs something. Last time I didn't give in to him he asked me to not talk to him anymore.
I'm sorry he is not being a good friend. There's nothing wrong with cutting ties with a friend if you are unhappy with the relationship. It doesn't sound like they are doing their part to make this a healthy friendship so it may be for the best.
I'll just ignore him.
There's nothing wrong with ending the friendship, but I would suggest being direct with him instead of just ignoring him. That way he knows that you don't want to speak with him anymore and he can find someone else to be friends with. Ignoring him may just make him angry with you.