Sam Bankman-Fried hints FTX could potentially create its own stablecoin

FTX laminitis Sam Bankman-Fried hinted that the speech could make its stablecoin successful the “not excessively distant future” successful an Oct. 27 interrogation with The Big Whale.

SCOOP@SBF_FTX told @TheBigWhale_ that @FTX_Official is moving connected their stablecoin

Video pic.twitter.com/hjVscUl50Q

— The Big Whale (@TheBigWhale_) October 27, 2022

According to SBF, the speech surely could motorboat a stablecoin. However, helium added that:

“The steadfast holding disconnected connected doing it due to the fact that I deliberation to immoderate grade collaboration connected that tin beryllium truly powerful. And a batch of that ends with america trying to find the partners we’d beryllium truly excited to enactment with. But I deliberation you’ll astir apt beryllium proceeding thing from america connected that taxable successful the not-too-distant future.”

FTX is 1 of the large crypto exchanges without its stablecoin. Bankman-Fried highlighted this successful a caller tweet wherever helium stated that the Second Great Stablecoin War had begun aft Binance-backed BUSD proviso began to grow.

SBF continued that the stablecoins present make much gross with affirmative involvement rates and that issuers person realized the value of allowing redemption to support their stablecoin’s stability.

2) What's antithetic this clip is:

a) affirmative involvement rates –> much gross for stablecoins

b) by present they've each learned the halfway lesson: NEVER EVER BLOCK REDEMPTIONS oregon your stablecoin volition nary longer beryllium stable

— SBF (@SBF_FTX) October 23, 2022

The crypto billionaire added:

“It’ll beryllium absorbing to spot what emerges from the non-fiat-backed-stablecoin space, post-Luna, and post-DAI-holding-USDC.”

The station Sam Bankman-Fried hints FTX could perchance make its ain stablecoin appeared archetypal connected CryptoSlate.