FTX founder Sam Bankman-Fried hinted that the change might create its stablecoin within the “not too distant future” in an Oct. 27 interview with The Massive Whale.
🔴 SCOOP@SBF_FTX instructed @TheBigWhale_ that @FTX_Official is engaged on their stablecoin
Video 👇 pic.twitter.com/hjVscUl50Q
— The Massive Whale 🐳 (@TheBigWhale_) October 27, 2022
In accordance with SBF, the change definitely might launch a stablecoin. Nonetheless, he added that:
“The agency holding off on doing it as a result of I believe to some extent collaboration on that may be actually highly effective. And lots of that ends with us looking for the companions we’d be actually excited to work with. However I believe you’ll in all probability be listening to one thing from us on that matter within the not-too-distant future.”
FTX is without doubt one of the main crypto exchanges with out its stablecoin. Bankman-Fried highlighted this in a latest tweet the place he acknowledged that the Second Nice Stablecoin Battle had begun after Binance-backed BUSD provide started to develop.
SBF continued that the stablecoins now generate extra income with constructive rates of interest and that issuers have realized the significance of permitting redemption to take care of their stablecoin’s stability.
2) What’s completely different this time is:
a) constructive rates of interest –> extra income for stablecoins
b) by now they’ve all realized the core lesson: NEVER EVER BLOCK REDEMPTIONS or your stablecoin will now not be secure
— SBF (@SBF_FTX) October 23, 2022
The crypto billionaire added:
“It’ll be fascinating to see what emerges from the non-fiat-backed-stablecoin area, post-Luna, and post-DAI-holding-USDC.”
