Co-founder and CEO of crypto exchange FTX Sam Bankman-Friedshared his thoughts, taking a look at the factors that could hurt the crypto market.
MarketWatch Speaking in a new interview with Sam Bankman-Fried; He thinks that the emergence of a mix of regulations, liquidations and major crashes could break the uptrend that the community believes will happen in cryptocurrencies.
“I think the biggest risk for cryptocurrencies is; purges are a combination of regulators’ investigations and policymakers’ restraints interlocking.”
According to Sam Bankman-Fried, the United States is the only country that has the power to influence the crypto world with such regulatory actions.
“This is the ‘worst storm’ in my opinion, negative regulatory actions by the US could cause global cooling (US is the only country with this power).”
Bankman-Fried’s comment came just after the crypto market was “hit” with $930 million in liquidity due to margin requirements on traders’ leveraged positions.
Founded by Sam Bankman-Fried FTX It was founded in the Bahamas in 2017 and is now the third largest crypto exchange in the world, according to CoinMarketCap. The company has raised nearly $420 million in recent fundraising rounds, raising its total value to $25 billion.
The native token of the platform to CoinGecko data FTT, trading at $60.56, down 11.5% from a seven-day high of $68.45 at the time of writing.
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