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 explained that the exchange is profitable and that conversations 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 eventual advantage.
According to him, sponsors and corporations have approached Bankman-Fried several times, proposing a takeover of a trading floor or the opportunity to go public through SPAC. If her team wanted to list its shares on the stock exchange, the FTX CEO indicated that finding partners inside the SPAC would not be an issue or a restricting issue for the site.
During the conversation, the billionaire 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 just interested in seeing how Gary Gensler and other regulators would construct their cryptocurrency policy. The most emphasis will be devoted to AML/KYC concerns, according to Bankman-Fried, because they are directly connected to possible money laundering, and it is in this direction that authorities have had great success, compelling big exchanges to implement required client identification.
In his interview, the FTX CEO sounded more skeptical about Bitcoin ETFs. People must first be made more devoted 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 asserted that the shift to clean energy sources did not bode well for the business, referring to the potential expenses as a price that the sector could bear without being disturbed.