FTX company has been declared as the Naming Right Sponsor for Blockchain Week event to be held in Australia from March 21-25. Blockchain Australia has been an active network where industry, government and academia come together to explore blockchain technology opportunities.
Planned Activities at the Event
More than 200 speakers will present their views across 75 programs that will be held during this event. The list of speakers will include Sam Bankman-Fried, the FTX CEO. FTX is a cryptocurrency derivatives exchange based in the Bahamas. Its current trading volume is at $1.41 billion. Blockchain Australia CEO Steve Vallas said that this appointment is an important moment for the blockchain ecosystem of Australia as this technology continues to gain mainstream adoption. This technology has been attracting lots of interest from traditional financial institutions. Rules and regulations to regulate the industry are under development.
Long-Term Growth in Focus
Bankman-Fried informed that this partnership is intended to support the growth of the Australian blockchain market. It will promote the cause of local entities operating in this industry. The initiatives will protect and safeguard consumers. The Crypto industry will thrive and evolve in this environment. While addressing Asian Financial Forum on January 11, he had advised regulators to develop a strong regulatory framework to regulate digital assets.
FTX under Bankman-Fried became a major unicorn company in December 2021. With a $25 billion valuation, it was placed at 11th position in the list of top unicorn companies of 2021. The present deal between FTX and Blockchain Australia has come at a time when major international exchanges dealing in crypto are paying big money to promote their brand to the Australian audience. Crypto.com, the crypto exchange from Singapore, announced yesterday that it would pay $25 million for the sponsorship of Australian Football League.