FTX CEO sees no future in Bitcoin payments, community fires back
FTX CEO’s comments on Bitcoin received heavy backlash from the crypto community, with many reminding him of Solana, a PoS network that has gone offline half a dozen times. 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.He....
Related News
Despite weekly optimism, XRP has dropped below the $3 mark again, frustrating its community as the token falls behind broader market trends. Currently, it is trading near $2.90, down more than 4% in the past 24 hours, with a market cap of around $173 billion. Related Reading: Data Leak? Crypto.com Fires Back At ‘Unfounded’ Allegations […]
The Cardano Foundation has issued a public clarification of its remit and recent decisions, answering a wave of community questions that followed Charles Hoskinson’s latest broadside against the organization. In a new forum post published on August 26, the Foundation outlines what it says are its day-to-day responsibilities for the network’s plumbing, its governance posture […]
The future could be one wherein the Australian dollar could cease to exist through physical notes and coins to become digital instead. In a recent speech given by Tony Richards, head of the Reserve Bank of Australia (RBA)’s payments policy department, he revealed that the RBA had kept a watchful eye on the growth in demand for digital currencies such as Bitcoin, to speculate and believe that Australia will, in the future, have a central-bank-issued digital currency. In a report by the Sydney Morning Herald today, the RBA sees a future wherein digital dollars will circulate and co-exist....
According to Bloomberg and several other news outlets, Crypto.com has pushed back against a report that a 2023 breach exposed user details and was kept from authorities. Related Reading: Coinbase Faces Customer Fury — Exec Promises To Do Better The story centers on a hacking group known as Scattered Spider and a young suspect who, […]
Adam Gibson, aka Waxwing, is the lead maintainer for one of Bitcoin’s most prolific CoinJoin projects. And he sees a bright future for transaction privacy.