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

05/16/2022

Less than a minute

2022.05.16 16:01

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

Sam Bankman-Fried, the founder of crypto exchange FTX, has criticized the efficiency of Bitcoin (BTC) as a payment network, only to meet heavy backlash from the crypto community.

During an interview with the Financial Times, Bankman-Fried fueled environmental concerns associated with the Bitcoin network’s mining consensus, proof-of-work (PoW), and claimed it’s not scalable enough to accommodate millions of transactions.

05/16/2022

Less than a minute

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