Sam Bankman-Fried’s FTX Mulls Creating A Stablecoin

The CEO of FTX, Sam Bankman-Fried, has told The Big Whale in an interview that the crypto exchange is working on creating a stablecoin – a crypto token whose value is tied to that of another asset.

FTX currently offers margin trading that allows customers to use a basket of U.S. dollar stablecoins as collateral. The basket includes TrueUSD (TUSD), USD Coin (USDC), Pax Dollar (USDP), Binance USD (BUSD) and HUSD.

FTX has been making several large acquisitions including a deal to buy crypto lending business BlockFi for up to $240 million.

While Bankman-Fried bought a 7.6% stake in retail trading app Robinhood (HOOD) in May, FTX is not interested in acquiring the entire company, he said in the interview.


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