• February 28, 2024

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FTX is Exploring the Possibility of Launching a Stablecoin

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FTX’s CEO Sam Bankman-Fried has said the crypto exchange is working on its own “stablecoin.”

According to journalist Colin Wu, Binance’s conversion of USDC, USDP and TUSD balances to BUSD, which the exchange began in late September, was called by Bankman-Fried the “Second Great Stablecoin War.”

In the stablecoin segment, USDT from Tether is the leader with a capitalization of $68.5 billion. It is followed by USDC and BUSD. The stablecoin from Center has fallen by almost 11% over the past 30 days, whereas the Binance coin has grown slightly by 1.8%.

Bankman-Fried has clarified the company’s priority is to launch a stablecoin through cooperation with a third party.