Thursday, September 16, 2021
Home Crypto News Market FTX CEO, Sam Bankman Fried Said He Spends Five Hours A Day...

FTX CEO, Sam Bankman Fried Said He Spends Five Hours A Day Dealing With Regulations And Licensing

- Advertisement -

The head of the FTX Crypto derivatives exchange, Sam Bankman Fried said in an interview with CNBC (Video Below) that he spent five hours a day dealing with regulations and licensing.

Such a routine is due to an increase number of crypto regulations from different countries.

He Told CNBC.

“We’re applying for licenses in a number of jurisdictions right now, We have to stay on top of that. We have to keep adapting, I think it’s probably a good solid five hours a day or so that I’m spending on everything from regulation to licensing and everything in between.”

According to the FTX CEO, His platform is trying to overcome the difficulties associated with legal uncertainty. According to Frieda, it can take from three to five years for more crypto regulations developments across the world.

“A lot of regulators, frankly, are currently going through the process of trying to figure out what their regulatory regime for crypto derivatives is going to be, I expect more developments to arise in the next three to five years.”

During the interview FTX CEO, emphasized the intention to continue to quote contracts in USDT, despite the ongoing regulators pressure on Tether.

“Tether is a cryptocurrency that can be on FTX, like any other cryptocurrency. It’s not treated as exactly a dollar on FTX. It’s a free-floating crypto. There is an open order book for it. It’s not crucially part of our USD basket, which means the exchange doesn’t treat it as necessarily one-to-one with the US dollars. That’s for the market and users to determine.”


Recall, on July 20, Crypto exchange FTX valued at $18 billion after funding from SoftBank, Coinbase and Sequoia. Later, the FTX lowered the size of crypto derivate products to the maximum leverage to 20x.

Watch FTX CEO Interview With CNBC:


- Advertisement -
I am the editor-in-chief of The Crypto Basic. Love to get involved in cryptocurrencies. I am in crypto since 2014. I like the way blockchain is progression, being adopted by large firms and in most parts of our lives. We are early adopters and followers of blockchain, and time will surely come when our success factor will be blockchain.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

El Salvador Chivo Bitcoin Wallet Has Surpassed 500,000 Users

local news reports El Salvador's Chivo bitcoin wallet has already surpassed 500,000 users. window.coinzilla_display = window.coinzilla_display...

Amasa Announces Dual IDO on Trustpad and Chainboost on September 28

Sydney, Australia, 16th September, 2021, Amasa will collaborate with Genesis Shards for a pre-IDO NFT release on September 23. Amasa is thrilled to announce its...

Coinbase Filled An Application with National Futures Association (NFA) To Start Offering Crypto Futures Trading

The cryptocurrency exchange Coinbase is now venturing into cryptocurrency derivatives. window.coinzilla_display = window.coinzilla_display || ; ...

Time Magazine Named Ethereum Co-Founder, Vitalik Buterin As One Of The Most Influential People Of 2021

Time magazine named Ethereum co-founder, Vitalik Buterin as one of the most influential people this year, along with musicians, world leaders, activists and others.

AMC, The Biggest Cinema Chain Worldwide With 1004 Theaters, 11,041 Screens To Start Accepting Ethereum, Bitcoin Cash And Litecoin

AMC CEO, Adam Aron has taken to Twitter to announce that the largest US theater chain will begin accepting Ethereum, Litecoin, and Bitcoin Cash...

TRON And BitTorrent Launch BTTC

San Francisco, California, 15th September, 2021, TRON, one of the world's largest and most popular blockchain-based operating systems, and BitTorrent, the leader in peer-to-peer...

Cardano Alonzo Mainnet Goes Live As Cardano Now Has Smart Contracts Capabilities

Cardano Alonzo upgrade is now live on the mainnet. Read: In Last 3 Months Cardano Adds Over 200,000 New Staking Addresses ...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.