Solana’s 17-Hour Outage Was Sad And Frustrating, Says FTX’s Sam Bankman-Fried

In a recent interview for Bloomberg, the Founder and CEO of FTX – Sam Bankman-Fried – shared his stance on hot topics such as Solana’s disruption and regulations of the digital asset industry.

Being a supporter of the blockchain project, the 29-year-old crypto billionaire described the 17-hour collapse of Solana’s network as “sad and frustrating:”

“It’s always sad when these happen, it’s always frustrating.”

Bankman-Fried explained what caused SOL’s outage. According to him, its network has rapidly expanded in a short period of time. As such, it was not able to cope with the increased activity. However, FTX’s CEO opined that Solana has already solved its issues.

“What this is really focused on is as you try to massively scale up a blockchain, eventually you test its current limits.”

The executive also gave his two cents regarding stablecoins and their involvement in the cryptocurrency space. He believes they “add a lot of value to the system, and they make it easier to interact with everything.” Keeping that in mind, banning them would not be a good idea. Instead, US watchdogs should regulate them so they can continue playing a crucial role in the digital asset industry.