Breaking: FTX CEO Sam Bankman-Fried Confirms “Stablecoin” Plans

Crypto exchange FTX CEO Sam Bankman-Fried plans to introduce its own stablecoin, he said in an interview on October 25. During the Big Whale interview, SBF reveals his plans during the bear market, acquisition strategy, upcoming projects, and creating its own stablecoin.

“Yes, it is very likely. We know how to create a stablecoin. We’re just thinking about the best partner to do it with. What I can tell you is that you’ll be hearing from us soon”

Sam Bankman-Fried recently revealed plans to launch FTX v2 crypto exchange near Thanksgiving. The developments include a new order matcher, lower latency API pathways, and other vital features. SBF believes it will help double the order throughput and half the order latency on the exchange.

Moreover, SBF also looks to raise fresh funding for acquisitions amid the crypto winter to boost retail users with new acquisitions. FTX will no longer consider bailout-type acquisitions. Moreover, SBF has turned down plans to acquire the commission-free trading app Robinhood. The company intends to attract users, especially retail investors, and grow organically.