FTX CEO Sees Crypto Sector Crisis Easing
The economic crisis in the cryptocurrency is weakening, says FTX co-founder and CEO Sam Bankman-Fried. In an interview with Axios Pro on Thursday, he noted that he no longer receives "tons of calls" from troubled businesses, as it was in the first weeks of the so-called crypto winter.
According to Bankman-Fried, FTX is "willing to put up with a little bit" as a lender. However, Bankman-Fried said he expects FTX to make a profit every quarter this year. FTX's earnings are "roughly in line with last year," and the company has gained market share over the past few months. FTX rejected the idea of adding bitcoin to its treasury, Bankman-Fried also said, but would consider it if the asset was trading at $15,000.
According to Bankaman-Fried, FTX US's drive to expand its suite of financial products in the United States has made progress in the past year, with "tens of thousands" on the waiting list. FTX is in the market for an equity clearing firm that will accompany the acquisition of Embed Financial Technologies last month and strategic investments in the U.S. national stock exchange Investors Exchange (IEX).
Bankma-Fried has repeatedly referred to the impact of a larger economy on the crypto market. In addition, he stressed the need for greater regulatory clarity in order to build a market structure and comfortable work of consumers and institutions in the crypto space. He was optimistic about the proposed US crypto regulation, saying:
"I am very excited about the accounts we have seen. I think they will go a long way."
According to Bankman-Fried, crypto regulation "may look similar" to regulation in traditional finance, with "the same principles at a high level," even if the details of crypto regulation differ.
https://coin-signal.com/cryptonews/ftx-ceo-sees-crypto-sector-crisis-easing/
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