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The CEO of decentralized exchange FTX, Sam Bankman-Fried, believes that the implementation of effective legislation to regulate cryptocurrencies will attract corporate investment in the industry.
Sam Bankman-Fried stated that innovations in the use of blockchain can lead to a strengthening of the cryptocurrency market. Blockchain has wide use cases in terms of financial settlement, payments, and social media, he says. It will take time for them to become large-scale, but companies are working on it, Bankman-Fried said.
The FTX CEO is confident that clarity in the regulation of the crypto asset market can attract capital from institutional investors to the industry:
“I think there will be regulatory clarity in the industry. And it’s going to be huge and unlock the asset class for a number of institutions that have been looking for a way to get in but have been a bit confused about doing so without clear federal oversight. So I think that both of these exciting factors will make the market much stronger over the next few years,” said the head of FTX.
In July, Sam Bankman-Fried called blockchain a “disruptive technology” because it could simplify payments, fix stock market flaws, and revolutionize social media. This month, Bloomberg Intelligence stock strategist Mike McGlone noted that Ethereum’s transition to PoS will have a revolutionary impact not only on cryptocurrencies, but on the entire financial system.
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