Bankman-Fried is open to federal regulation and has emphasised this level on a number of events in numerous interviews. In a latest interview with CNBC, the FTX CEO mentioned that federal regulation is nice for cryptocurrency. “I believe it is good for everybody. It provides buyer safety which we’re lacking proper now, actual federal oversight, safety towards monetary crimes… and on the identical time permits (crypto) firms to carry liquidity again to U.S. markets.”
Based on him, the so-called crypto-winter noticed many main crypto exchanges lose income together with his personal firm, FTX, which took a “important hit” amid falling crypto costs (by way of Fox). However, in line with him, this fallout might be used to “form crypto regulation,” which is now being debated in Congress.
His openness to being regulated is an strategy that appears to have paid off for Bankman-Fried. Today, FTX is seen as a “lender of final resort,” which signifies that his firm rescues crypto firms which are going beneath by giving them loans (by way of CNBC). Not too long ago it made a cope with the crypto firm BlockFi which provides it an possibility to accumulate them for as a lot as $240 million.
