Sam Bankman-Freed: "Changes in the percentage rates of the Fed’s continues to influence the cryptocurrency market" – Bits Media

The head of the FTX Exchange Sam Bankman-Fried said, that cryptocurrencies still remain in the power of macroeconomic forces, which are weakening, then strengthen crypto.

CEO of cryptocurrency derivatives Sam Bankman-Fried (Sam Bankman-Fried) stated, that the digital asset market is acutely reacted to the policy of the federal reserve system (FRS) USA:

“The main reason is, that changes in interest rates lead to strengthening, then to weakening of fiat currencies. Now the dollar is strengthened not only against Amazon, but also bitcoin. When the dollar starts to fall, BTC and promotions will begin to grow ".

He added, that since most of the macroeconomic indicators are determined by the movement of currencies, This leads to a change in cryptocurrency prices in relation to the dollar. FTX CEO noted, that lately he begins to see some stability in cryptocurrency markets.

“We do not see continuous outflow, As within a week or month after the incident with Terra and Three Arrows Capital. Investors and companies are in standby mode ", - he believes.

According to Bankman-Fried, Cryptocurrency can get out of its current trend, if he receives assistance from regulatory authorities:

“The clarity of regulation will make the greatest influence, Especially in the USA. The appearance of regimes, which will allow the industry to work clearly in the country, while protecting consumers - it would be the largest white whale in recent years. I think, that we are close to its appearance ".

At the beginning of the month, the US financial stability council urged to strengthen the control over the industry. According to American regulators, Cryptocurrencies may pose a threat to the financial system of the United States, Therefore, it is necessary to “regulate” the sphere of digital assets accordingly.