FTX chief says Bitcoin has no future as a payments network- FT


    Bitcoin cryptocurrency representation is pictured on a keyboard in front of binary code in this illustration taken September 24, 2021. REUTERS/Dado Ruvic/Illustration

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    May 16 (Reuters) – Cryptocurrency exchange FTX’s founder has said that Bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday.

    “The Bitcoin network is not a payments network and it is not a scaling network,” the report quoted FTX founder and Chief Executive Officer Sam Bankman-Fried as saying.

    Bitcoin, the world’s largest cryptocurrency, touched its lowest since December 2020 last week after the collapse of TerraUSD, a so-called stablecoin.

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    Reporting by Shubham Kalia in Bengaluru; editing by Uttaresh.V

    Our Standards: The Thomson Reuters Trust Principles.



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