Sam Bankman-Fried: FTX Could Create Its Own Stablecoin

In an interview with The Big Whale, CEO Sam Bankman-Fried said that FTX might develop its own stablecoin through a partnership.

When The Big Whale inquired if FTX would introduce its own stablecoin, Bankman-Fried responded:

“We certainly could. We know how to do it. We hold off on doing it because I think to some extent collaboration on that can be really powerful. And a lot of that ends with us trying to find the partners we’d be really excited to work with. But I think you’ll probably be hearing something from us on that topic in the not-too-distant future.”

FTX is a large cryptocurrency exchange that lacks a stablecoin. In a recent tweet, Bankman-Fried suggested that the Second Great Stablecoin War had begun as Binance-backed BUSD supply began to surge.

SBF went on to say that stablecoins now earn more money with positive interest rates and that issuers have recognized the significance of enabling redemption to ensure the stability of their stablecoin.

Coincu will continue to update the situation related to SBF, you can find out more information through this article.

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