Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, suggested that the exchange is working to issue stablecoins.
FTX continues to evolve to increase its dominance in the crypto market. In particular, the popular exchange will buy Voyager Digital for $1.4 billion. With its strong investments, FTX competes with another major exchange, Binance. Despite the crypto bear market, the stock market’s investments are on the rise. The company also acquired crypto lending platform BlockFi for $240 million.
FTX Targets Leadership in Industry Domination Competition
The bear market in cryptocurrencies, the regulatory efforts of countries and bankruptcy events occupy the agenda. In particular, there has been an increase in the number of those who claim that crypto money exchanges monopolize the sector. In light of all these developments, the competition between Binance and FTX is also fueling.
Popular crypto exchange FTX is working hard to create stablecoins. The CEO of the company, Sam Bankman-Fried, stated in an interview that they want to issue a stablecoin.
USDT, the largest company in the stablecoin market, has a market cap of $68 billion. Despite regulations and laws, the increasing number of users on the stablecoins side has also attracted the FTX side.
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