FTX CEO Sam Bankman-Fried recently revealed that he has bought billions of links with other cryptocurrencies in the industry, according to an article on the stablecoin in Bloomberg Businessweek.
Interviewed at a sold-out bitcoin convention in Miami in June, Bankman-Fried told Bloomberg that trading tether, the largest of the dollar-pegged stablecoins, has key merit over dollars.
“If you’re a crypto company, banks are nervous about running with you,” he said.
Other crypto investors who spoke to Bloomberg described the use of tether as an intermediate currency as an industry standard, despite deep reservations about whether the stablecoin is subsidized through dollars. for dirty money, or a government ploy to hunt down criminals.
As the close-up look at the attachment intensified, with the Justice Department proceeding with a bank fraud investigation opposing the attaché’s executives for further behavior, Bankman-Fried clung to signing the attachment on FTX. differently.
“Tether is a cryptocurrency that can be in FTX, just like any other cryptocurrency,” he told CNBC. “It’s treated precisely like a dollar in FTX. It’s a floating cryptocurrency. “
“It’s an integral component of our USD basket, which means the exchange doesn’t necessarily treat it as one-on-one with U. S. dollars. It’s up to the market and the users to determine it,” Bankman-Fried said.
“Well, only 20% of the interview about USDT, I’ll take it as a win,” he tweeted.