(Reuters) – Cryptocurrency alternate FTX’s founder has stated that Bitcoin has no future as a payments network and criticized the digital foreign money for its inefficiency and excessive environmental prices, the Financial Times reported on Monday.
“The Bitcoin network isn’t a payments network and it isn’t 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 final week after the collapse of TerraUSD, a so-referred to as stablecoin.
(Reporting by Shubham Kalia in Bengaluru; modifying by Uttaresh.V)
