FTX CEO Sam Bankman-Fried Confirms “Stablecoin” Plans

    Crypto exchange FTX CEO Sam Bankman-Fried plans to introduce its own stablecoin, he said in an interview on October 25. During the Big Whale interview, SBF reveals his plans during the bear market, acquisition strategy, upcoming projects, and creating its own stablecoin.

    “Yes, it is very likely. We know how to create a stablecoin. We’re just thinking about the best partner to do it with. What I can tell you is that you’ll be hearing from us soon”

    Sam Bankman-Fried recently revealed plans to launch FTX v2 crypto exchange near Thanksgiving. The developments include a new order matcher, lower latency API pathways, and other vital features. SBF believes it will help double the order throughput and half the order latency on the exchange.

    Moreover, SBF also looks to raise fresh funding for acquisitions amid the crypto winter to boost retail users with new acquisitions. FTX will no longer consider bailout-type acquisitions. Moreover, SBF has turned down plans to acquire the commission-free trading app Robinhood. The company intends to attract users, especially retail investors, and grow organically.

    Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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