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Friday, January 27, 2023

Former US President of FTX Did Not Learn: He Wants to Launch Another Cryptocurrency Trading Platform

There are people who neither rebuke others in their heads nor in their own. This is the case with Brett Harrison, who until September this year was the president of FTX in the US, who is looking for investors to launch one. new cryptocurrency trading platform,

Specifically, Harrison would negotiate with potential investors to raise some 6 million dollarsHence the net valuation of this new cryptocurrency exchange firm would be 60 million dollarsPublic Information,

It should be noted that the former president of FTX is not the only one in the US who continues to bet on these digital assets. A few weeks ago, billionaire American businessman Mark Cuban explained that his faith in him is due to smart contractThose computer programs that are inserted into a blockchain network and will play an important role in creating various applications in the future.

For his part, Mike Novogratz thinks bitcoin continues to will reach $500,000But he don’t think he’s going to do it now five years from now, The executive director of Galaxy Digital points to the US Federal Reserve (Fed) and interest rate hikes that the entity has served as the main reasons for the cryptocurrency price decline. However, he says that this too shall pass and “the industry itself will emerge with lessons learned and you will see how the price rises again”, according to business Insider,

Until that happens, it doesn’t look like it will be easy for Harrison to get the necessary funds. Before the FTX crash, the cryptocurrency sector was already suffering from a loss of investor confidence, as evidenced by $5,100 million less revenue According to Crunchbase data, it registered higher growth in the third quarter of the year than in the first quarter.

winner of disaster

While the fall from grace of cryptocurrency exchanges has shaken the foundations of the industry, not all players involved have lost. During the month of November, the weekly transaction volume of the decentralized digital asset trading platform skyrocketed by 146%. going from 20,000 million to 49,000 million dollars,

This momentum also boosted trading on decentralized platforms, With 110% growth in just one month, That is, it increased by $ 56,200 million to reach $ 107,000 million.

The main beneficiary has been Uniswap, which managed 60% transaction Built in that period, a far cry from the 9% market share of its main competitor, Pancakeswap. What’s more, on November 14, it surpassed Coinbase’s exchange volume. That day, the company transferred $1,100 million, 500 million more than a centralized reference platformAccording to data from Delphi Digital which collects Finanzas.com,

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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