Sam Bankman-Fried: These 3 factors together will cast a negative shadow on cryptocurrencies

The co-founder and CEO of the FTX exchange identifies a combination of factors that could affect the crypto market as a whole Sam Bankman-Fried.

In one interview New to MarketWatch, Sam Bankman-Fried said the combination of regulation, liquidation and major crashes could dampen public optimism about cryptocurrencies and digital assets.

“I think the greatest risk is when a huge crash, liquidation, regulatory requirements and very restrictive rule-making come together to cast a negative shadow on the crypto ecosystem.”

The 29-year-old billionaire said the United States was the only country with the right to influence the global crypto market through such regulatory measures.

“It would be the worst hurricane ever and would almost certainly involve negative regulatory action by the United States. It is one of the few countries that can cause global warming. ”

Sam Bankman-Fried’s comments come after the crypto market suffered a $ 930 million liquidation due to margin requirements for traders’ leveraged positions.

FTX was founded in 2017 in the Bahamas and is the third largest cryptocurrency exchange according to CoinMarketCap. It reached an overall valuation of $ 25 billion last week after its final round of funding and helped the company raise $ 420 million.

Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.

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