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FTX CEO Sees No Future In Bitcoin Payments

crypto payments
  • May 21, 2022
  • Crypto, Insights

Sam Bankman-Fried, the CEO of FTX, a centralized crypto exchange, has attacked Bitcoin’s (BTC) efficiency as a payments network, prompting a harsh response from the crypto community. Bankman-Fried cited environmental concerns about the Bitcoin network’s proof-of-work (PoW) consensus in an interview with the Financial Times, claiming it can’t scale to handle millions of transactions. Alternatively, he promoted the adoption of proof-of-stake (PoS) consensus.

FTX CEO sees no future in Bitcoin payments, community fires back

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