Beautiful Virgin Islands

Tuesday, Jun 24, 2025

FTX CEO Sam Bankman-Fried Calls Dogecoin the Asset of the Year

FTX CEO Sam Bankman-Fried Calls Dogecoin the Asset of the Year

According to Sam Bankman-Fried, a 29-year-old billionaire, and the CEO of crypto derivatives exchange FTX, the meme cryptocurrency Dogecoin (DOGE) is the asset of the year.

According to Sam Bankman-Fried, a 29-year-old billionaire, and the CEO of crypto derivatives exchange FTX, the meme cryptocurrency Dogecoin (DOGE) is the asset of the year.

In a recent interview on The Jax Jones and Martin Warner Show, the young executive explains how economic conditions in the past year have driven retail investors to bet on the Shiba Inu-themed crypto asset.

“If there’s like an asset of the year for 2020 and 2021, it would be Dogecoin. That is the asset that accurately reflects our current economic climate. That is the asset that we have all chosen and that we deserve for better or for worse.

I don’t say that as an endorsement or an anti-endorsement. I’m not trying to take a position on it. I’m just saying everything we as a society have decided over the last year has been dragging us closer and closer to the Dogecoin financial standard.”

He also points out the reason why retail investors started to pay attention to Dogecoin.

“What have we done as a society that makes, you know, when did we swipe right on Dogecoin?

There’s just been a ton of things and Elon, he’s actually powerful. He is the most influential man in the world when it comes to financial assets right now. His tweets move markets. He chose Dogecoin, and no one was surprised.

Everyone kind of knew he’d choose Dogecoin… and we chose Elon. We signed up for this. We signed up for some amount of self-aware mockery for some amount of, you know, a sense of humor and for some amount of challenging norms and saying, ‘Okay, but seriously, maybe what makes your thing better than Dogecoin? You know, no, really answer me that. Yes, I realize it’s a meme. My question still stands.’”

Bankman-Fried talks about the importance of social media as well, highlighting that social media channels such as Reddit and Twitter have provided the retail investors a platform to come together and challenge institutional investors.

“All of a sudden for the first time, 10 million people all across the world can get together and tweet at each other and, you know, agree via sh*tposting memes on Reddit and Twitter about what they’re into, and they can coordinate not explicitly even just implicitly. You put those 10 million people together, and even if they only have a $1,000 each, that’s 10 billion dollars of inflows, and that rivals the inflows that you get from the biggest institutions in the world.

All of a sudden, you have this global decentralized network of bored people at home on their computers who collectively are the biggest pension fund, the biggest mutual fund, the biggest ETF (exchange-traded fund) in the world, and they don’t have the same fiduciary duty to shareholders that Fidelity has. They don’t have the same institutional history. They can buy whatever they want, and if they want to buy a Dogecoin, they’re going to buy a DOGE.”

Source: FTX CEO Sam Bankman-Fried Calls Dogecoin the Asset of the Year – Fintechs.fi

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
×