5 months ago 1 min read

Plans for "Stablecoin" are Confirmed by FTX CEO Sam Bankman-Fried


CEO of the cryptocurrency exchange FTX, Sam Bankman-Fried, stated in an interview on October 25 that the company intends to launch its own stablecoin. SBF discusses his plans for the bear market, his acquisition strategy, new projects, and developing its own stablecoin during the Big Whale interview.

“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”

Recently, Sam Bankman-Fried disclosed plans to introduce the FTX v2 cryptocurrency exchange around Thanksgiving. A new order matcher, lower latency API paths, and other critical features are among the developments. SBF predicts that it will contribute to a doubling of the exchange's order throughput and a halving of order latency.

Additionally, Bankman-Fried seeks to generate new capital for acquisitions in the midst of the crypto winter in order to bolster retail users with new acquisitions. FTX will no longer contemplate purchases that might require a bailout. Additionally, SBF declined offers to buy the Robinhood commission-free trading app. The business wants to draw customers, particularly retail investors, and expand naturally.

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