{"id":47113,"date":"2021-08-03T11:24:08","date_gmt":"2021-08-03T08:24:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47113"},"modified":"2025-09-01T19:45:17","modified_gmt":"2025-09-01T16:45:17","slug":"ftx-chief-admits-spending-five-hours-a-day-on-regulatory-and-licensing-questions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-chief-admits-spending-five-hours-a-day-on-regulatory-and-licensing-questions\/","title":{"rendered":"FTX chief admits spending five hours a day on regulatory and licensing questions."},"content":{"rendered":"<p>FTX chief Sam Bankman-Fried, in an interview with CNBC, lamented that he spends five hours a day on regulatory and licensing questions. He explained that such a routine is due to heightened scrutiny of the industry.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We are filing applications for licenses in a number of jurisdictions&#8230; It is important for us to stay on top of developments,&#8221; Bankman-Fried explained.<\/em><\/p>\n<\/blockquote>\n<p>According to the head of FTX, the platform is trying to overcome difficulties related to legal uncertainty. Bankman-Fried estimated that resolving them could take three to five years.<\/p>\n<p><iframe loading=\"lazy\" width=\"1920\" height=\"893\" src=\"https:\/\/www.youtube.com\/embed\/xeqnY_h2fss\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>In the interview, the CEO of the crypto-derivatives exchange emphasized the intention to continue listing USDT contracts, despite the <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-reports-us-justice-department-has-opened-an-inquiry-into-tether-the-company-calls-the-news-clickbait\">pressure from regulators on Tether<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;USDT, like any freely circulating cryptocurrency, could get a listing with us. There is an open order book. The dollar peg is determined by the market and users,&#8221; he noted.<\/em><\/p>\n<\/blockquote>\n<p>As previously reported, on July 20 FTX announced <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-raises-900-million-at-an-18-billion-valuation\">a record $900 million financing for the industry<\/a>. Investors valued the platform at $18 billion.<\/p>\n<p>Later, the crypto-derivatives exchange <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-cuts-maximum-leverage-to-20x\">reduced the maximum leverage<\/a> to 20x.<\/p>\n<p>Following the funding round, FTX <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-chief-explains-divorce-from-binance-as-a-difference-in-business-approach\">acquired<\/a> shares owned by Binance for an undisclosed amount, which Binance had invested in the crypto-derivatives platform in December 2019. Bankman-Fried explained that the move reflected differences in management styles.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX chief Sam Bankman-Fried told CNBC that he spends five hours a day on regulatory and licensing questions, a routine he attributed to heightened industry oversight.<\/p>\n","protected":false},"author":1,"featured_media":47114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1236,36],"class_list":["post-47113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-ftx","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=47113"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47113\/revisions"}],"predecessor-version":[{"id":47115,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47113\/revisions\/47115"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/47114"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=47113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=47113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=47113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}