FTX CEO - Market Insider
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FTX CEO asserted in a recent interview that the firm is working on launching its own stablecoin.

He also reviewed earlier reports that FTX is planning to raise more funds while he talked about the recent and possible future acquisitions.

Without providing further details on the new development, Sam Bankman-Fried said the exchange knows how to create a stablecoin and is “very likely” to do so soon.

It is likely that FTX is looking for a partner before launching a stablecoin.

If FTX pushes hard on it, the company will mimic other digital asset exchanges that have paved the way, including Binance.

Binance USD(BUSD)  is currently the third-largest stablecoin and the seventh-largest crypto with a market cap of over $21 billion.

FTX CEO also spoke about the ongoing crypto bear market, saying it’s quite threatening to the entire industry.

However, the added that his firm has managed to withstand the stop as FTX has continued to “grow the business, create services and new tools for customers.”

By Meekness Nnoka

Blockchain Analyst & Writer with top-notch Technological background. Enjoys reading and writing fascinating crypto contents. 4 years content creating experience.

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