Sam Bankman-Fried, the CEO of FTX and Alameda Research, discussed his cryptocurrency exchange’s potential IPO, the issues with Bitcoin ETFs, and the regulation of the digital currency sector.
In an interview with Bloomberg, Bankman-Fried stated that the FTX team does not believe that “publicity” is necessary at this time. He clarified that the exchange is profitable and that discussions about an IPO are held regularly. The difficulty of the “publicity” process and all the problems that come with it now outweigh the platform’s ultimate advantage.
According to him, sponsors and corporations have approached Bankman-Fried several times, offering a takeover of a trading floor or the chance to go public through SPAC. If her team wanted to list their shares on the stock exchange, the FTX CEO claimed that finding partners within the SPAC would not be difficult or a restricting issue for the site.
During the conversation, the businessman was also asked about his thoughts on the bitcoin industry’s regulation. He, in turn, stated that half of the community is waiting for more actions and measures, while the other half is simply interested in seeing how Gary Gensler and other regulators would construct their cryptocurrency policy. The most emphasis will be directed to AML/KYC issues, according to Bankman-Fried, because they are directly tied to possible money laundering, and it is in this direction that regulators have had tremendous success, pushing big exchanges to implement obligatory customer identification.
In his interview, the FTX CEO sounded more skeptical of Bitcoin ETFs. People must first be made more loyal to Bitcoin and other cryptocurrencies on the market, he believes, before they can feel comfortable with Bitcoin ETFs.
Finally, the topic of mining was brought up. In response, Bankman-Fried firmly claimed that the sector’s transition to clean energy sources does not bode well, describing the potential expenses as the price that the industry could pay without disruption.