The long-awaited Bitcoin and altcoin meeting has begun. The eyes of the cryptocurrency market are in this meeting. FTX CEO Sam Bankman-Fried, Circle executive Jeremy Allaire, Paxos’ Chad Cascarilla, Bitfury’s Brian Brooks, Stellar’s Denelle Dixon and Coinbase’s Alesia Hass will speak at the US Congress.
So what will stock market and crypto company CEOs talk about at this meeting? You can follow the meeting live from the link above. We will be reporting the developments to you immediately. Below are the key issues discussed at the meeting. Constantly update the article to follow the explanations!
What is being talked about at the highly anticipated Bitcoin meeting?
FTX CEO Sam Bankman-Fried emphasized the importance of the market and made the following statements at the meeting:
We are a multi-regulated stock exchange in the USA. Regulation of the market is healthy for everyone. Today, the industry is already regulated to some extent. Cryptocurrencies give people who want to manage their financial life and know what to do, the chance to make transactions much faster and much cheaper. When you look at people all over the world today who do not have bank accounts, you see that this system does not serve everyone. As a result, this system doesn’t work for most people. The industry has changed the lives of many people. Today, every consumer pays serious transaction fees when they go to a grocery store. If there is a wrong transaction, it takes weeks to get it back.
Bitfury CEO Brian Brooks drew attention to Web 3.0 and decentralized exchanges in his statements. Bitfury CEO said:
Americans should know what their national policy is on Web 3.0 and decentralized exchanges. Today we should not waste time with small questions such as debating which cryptocurrencies are securities and not. Can someone explain to me why one of America’s top companies like Fidelity had to go to Canada to offer a Bitcoin ETF?
Coinbase CFO Alicia Haas also made critical comments at the meeting. Emphasizing that cryptocurrencies are a new financial system, Alicia Haas says:
Cryptocurrencies are now assets that have uses. Like the Internet in the 1990s, we see a very serious interest in cryptocurrencies. Cryptocurrencies are a new financial system for the internet age.
When the meeting started, a sudden jump was observed in Bitcoin. Bitcoin price is trading at $50,734 at the time of writing.
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