Sam Bankman-Fried of FTX Announces Plans to Launch Stablecoin
Image credit: FTX FTX CEO Sam Bankman-Fried has confirmed that the crypto platform is working on launching its own stablecoin. In an interview with The Big Whale, Bankman-Fried said "it is very likely" FTX will launch a stablecoin, joining most other major exchanges in having launched a crypto token whose value is tied to fiat currencies. He added that they know how to create a stablecoin and are looking for the best partner to work with. “Yes, it is very likely. We know how to create a stablecoin. We’re just thinking about the best partner to do it with. What I can tell you is that you’ll be hearing from us soon,” the billionaire said. “I think you’ll probably be hearing something from us on that in the not-too-distant future.” A stablecoin is a cryptocurrency that strives to keep its price pegged to fiat currencies like the US dollar or the pound. The biggest stablecoins in terms of market capitalization are...