The Second Great Stablecoin War

Cryptocurrency exchange FTX is considering launching its own stablecoin, but would prefer to do so with a partner. CEO Sam Bankman-Fried said the company has the know-how to make its own stablecoin, but it’s a project the company would prefer to do as a partnership. It comes a few days after he heralded the start of “the Second Great Stablecoin War” on Twitter, in response to Binance’s move to auto-convert other stablecoins into its own stablecoin, Binance USD (BUSD).

FTX is “probably [one of] the largest unaligned players in the stablecoin ecosystem” right now, he added. With its current cash position of between $1 billion and $4 billion, FTX is “in a great position to do small and medium-sized acquisitions," said Bankman-Fried.

Full article here from DeCrypt

Jared Phillips
Jared Phillips
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