The head of FTX and Alameda Research, Sam Bankman-Fried, spoke about the possible IPO of his cryptocurrency exchange, the problems of Bitcoin ETFs, and the regulation of the digital currency market.
In an interview with Bloomberg, Bankman-Fried said that the FTX team does not see a critical need for "publicity" today. He clarified that the exchange is profitable and discussions on the issue of entering an IPO are periodically conducted, but so far the complexity of the "publicity" process and all the troubles associated with it run counter to the ultimate benefit for the platform.
According to Bankman-Fried, he has been approached more than once by sponsors and companies offering a takeover of a trading floor or an option to go public through SPAC. The FTX chief said that finding partners within the SPAC would not be a problem or limiting factor for the site if her team were interested in listing their shares on the stock exchange.
During the interview, the businessman was also asked what he thinks about the regulation of the cryptocurrency industry. He, in turn, said that half of the community has taken a position of waiting for further actions and measures, and the other part just wants to see how Gary Gensler and other regulators will build their policy regarding cryptocurrencies. According to Bankman-Fried, the most attention will be paid to AML/KYC issues, since they are directly related to potential money laundering and it is in this direction that regulators have achieved significant success, forcing large exchanges to introduce mandatory identification of customers.
As for Bitcoin ETFs, the FTX CEO sounded more like a skeptic in his interview. In his opinion, in order for people to feel comfortable with Bitcoin ETFs, they must first be made more loyal to Bitcoin itself and other cryptocurrencies on the market.
Finally, the issue of mining was also touched upon. Responding to it, Bankman-Fried confidently stated that the transition to clean energy sources does not bode well for the industry, calling the possible costs "the price that the industry could pay without upset”.
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