FTX offers $1 Million for the acceptance of stablecoins
The crypto exchange's official Twitter account posted a tweet on Tuesday evening asking how much it would cost to "convince a bank to accept Stablecoins." The tweet also suggests offering a $1 million prize to the first bank in each region to accept Stablecoins before asking if anyone working for a bank would be willing to discuss the idea further.The exchange explained the reasoning behind the proposal in a follow-up tweet, saying, "We'd love to form a relationship like this if it means FTX users would have near-instant and near-free deposits and withdrawals." Currently, sending and receiving funds from banks to crypto exchanges is a significant pain point for many users
Their opinion on crypto regulation
FTX is currently the third-largest crypto exchange by trading volume. In early December, FTX CEO Sam Bankman-Fried was one of several cryptocurrency industry representatives who spoke to the House Financial Services Committee about cryptocurrency regulation. Bankman-Fried suggested that crypto exchanges should be allowed to choose a single primary regulator instead of being subject to the restrictive policies of the Securities and Exchange Commission.In October 2021, FTX raised $420 million in a funding round from some of the most prominent international investors, including Temasek, Sequoia Capital, Sea Capital, IVP, ICONIQ Growth, Tiger Global, Ribbit Capital, and Lightspeed Venture Partners.
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