SBF: Significant Progress in Global Cryptocurrency Regulation Next Year

the last fox marketFT Cryptocurrency Trading PlatformX CEO Sam Bankman-Fried conducted a special interview. In an exclusive interview, SBF explains why Bitcoin is falling, how Bitcoin interacts with commodities and howTube & Bitcoin Spot ETF, the future of the Metaverse.

Rhythm BlockBeats prepares and performs the interview as follows:

Bitcoin fell below $40,000 a few days ago, breaking for several consecutive days, breaking its lowest level since September 2021. Now, bitcoin is back to around $41,000. As 2022 dawns, many investors are still very excited about cryptocurrencies, especially Bitcoin. They believe that Bitcoin will be stable and will rise further in 2022. Let's listen to Sam Bankman-Fried, CEO of FTX, one of the richest people in cryptocurrency.

Guardian: Sam, Bitcoin has fallen the most since 2018. What is it?

SBF :We saw some similarities in the retail industry, especially in marketing and product development. Some of the reasons for Bitcoin's decline are in response to certain indicators, such as additional signals, financial confidence, etc., which arbitrate after the big crypto industry market.

Moderator: Do you think the bitcoin market is now in sync with commodity markets?

SBF :Yes. I think we can see the relationship between Bitcoin and the commodity market growing every month. I wouldn't say the two are fully in sync. I think they now have relationships with a lot of major industries.

Moderator: Do you think Bitcoin will cross $100,000 in 2022?

SBF :First of all, this is not investment advice, but I don't think it's possible for Bitcoin to break above $100,000 by the end of the year. Of course, Bitcoin can work harder than we would like.

Moderator: You are a smart, risk-averse person. According to Forbes, you are one of the most profitable cryptocurrency players in the market, with an estimate of $26.5 billion. So when did you first buy Bitcoin? What is the value of time?

SBF :I think it was late 2017 when Bitcoin went from $3,000 to $10,000. At the time, I was just entering the cryptocurrency ecosystem, arbitrating diversified trades with small investments.

Guardian: Another key issue is how the SEC regulates cryptocurrency as well as real estate. What do you think next? And does that make you think you should buy more bitcoins as the stock market falls below $40,000?

SBF :While we have to wait, hopefully we will see a significant increase in global and US regulatory territory for cryptocurrencies in the years to come. It will be difficult because people in the industry have long complained about the relationship between business and management. However, I believe there will be a light at the end of the road and there will be a few simple rules that will allow cryptocurrencies to be converted into classy assets while still being generally adhered to.

Moderator: We now have a Bitcoin Futures ETF. Do you think there will be a true guaranteed Bitcoin price ETF approved this year?

SBF :Maybe or maybe not. I think the ETF will approve, but I don't know if it will be this year. The most important feature of Bitcoin Spot ETFs is that when trading Bitcoin Futures ETFs, it is more profitable to pay the rolling price to buy BTC at that price. From a consumer perspective, it's only a matter of time before the Bitcoin ETF arrives. Most important is what the SEC sees of the regulatory and regulatory environment.

Guardian: Yes, the SEC's Gary Gensler has made it clear that he doesn't want ETFs to be too dangerous for investors. By the way, Sam, you've been working on NFTs for a while. Have you heard that people can now buy land in the metaverse?

SBF :Yeah, I think what we're seeing now is just the beginning and buying land doesn't tell the whole story. We only see what happens when the metaverse becomes more inclusive and engaging. You'll see apps and more and more companies start connecting and interfering with the metaverse, allowing them to easily switch between their devices. I'm very happy to see this working at the start of the metaverse. But we will be very happy with what will happen in a few years.