FTX CEO Bankman-Fried wants to fix social media with blockchain


Bankman-Fried wants to fix social media’s ‘broken model’ through blockchain technology. — AFP

It is well-known that cryptocurrency billionaire and FTX chief executive officer Sam Bankman-Fried wants to give away his entire fortune. Next on his agenda is fixing social media’s "broken model” through blockchain technology.

"What is the moderation policy for all of social media – it’s like three guys? It’s the people who run three companies who choose what does and doesn’t get censored. That’s a broken model,” Bankman-Fried said in an interview with Bloomberg TV.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

Sirius XM found liable in New York lawsuit over subscription cancellations
US Supreme Court tosses case involving securities fraud suit against Facebook
Amazon doubles down on AI startup Anthropic with $4 billion investment
Factbox-Who are bankrupt Northvolt's creditors?
UK should use new powers to probe Apple-Google mobile browser duopoly, report says
EU regulators scrap probe into Apple's e-book rules after complaint was withdrawn
Hyundai recalls over 145,000 electrified US vehicles on loss of drive power
'World of Warcraft' still going strong as it celebrates 20 years
Northvolt CEO steps down, saying group needs up to $1.2 billion
Bitcoin at record highs, sets sights on $100,000

Others Also Read