In an interview recently from prison with Tucker Carlson, Sam Bankman-Fride, former CEO of the now-Defunction Cryptocurrency Exchange FTX, shared his perspective on the present state and future of the Cryptocurrency Industry.
Conversation Covered a wide range of subjects, but focused on mainly regulatory challenges, the development of the founding promises of Crypto and the possible projection of digital currencies in the global financial scenario.
Regulatory landscape for Crypto and American Status
Asked about Crypto’s future in the US, Bankman-Fride emphasized the importance of stable regulatory framework for adopting and development, especially in the country.
He said that while America is about 30% of the traditional finance of the world, it only represents about 5% of the global crypto activity.
Bankman-Fride admitted that the new administration appears more favorable to cryptocurrency, stating that “changing guards helps.” However, he attributed the current challenges to the country’s strict regulatory environment, saying, “The reason is completely regulator; It is unique in difficulty working with America. ,
While reflecting the transition between the President’s administration, Bankman-Fride saw the difference in his outlook for crypto regulation.
“You see what the Trump administration said in the office, there are many good things. There are many things that were very different from the stance [of] Biden administration, ”he commented.
However, he emphasized that the effectiveness of the attitude of any administration depends on the execution, given that the financial regulator is “large, huge bureaucrats. They do not have the habit of changing overnight, and they have been playing a really blocked role in Crypto for a decade.”
Promise of privacy and utility in crypto
Discussion also touched the basic ideals of cryptocurrency, especially promised privacy and personal autonomy in financial transactions.
Recalling the early days of Crypto, Carlson said, “The whole idea was that it was a currency that could personally collect its freedom of commerce … and this has not happened clearly.”
Bankman-Fride acknowledged this change, attributed to the long deadline required to adopt technical compared to the rapid cycles of investment bubbles. He explained, “Technology is built on a decade basis … Current, Crypto is not at a point where it can become a quarter or something everyday tool of the world.”
Despite the current boundaries, Bankman-Fride expressed optimism about the future utility of cryptocurrency. He imagined that with the progress of the continuous industry, “Five, ten years later, you can imagine a world where it is a sudden case that anyone can have a crypto wallet … a billion people can use it every day, with privacy, with security, security, fast, cheap, international.”
