COVID-19 is the Biggest Threat to Markets in the Next Decade - FTX CEO
Sam Bankman-Fried (SBF), founder and CEO of major crypto exchange FTX, argues that the world didn't learn many lessons from the COVID-19 outbreak, which is the biggest issue that could potentially threaten the markets in the next 5 to 10 years.
SBF has recently been consulted by the mainstream on a number of relevant issues - including those not directly crypto-related, but rather affecting the economy at large. This arguably provides legitimacy not only to him as a crypto and finance figure, but to his companies as well, placing them on 'the respectable firms' list.
The billionaire made the above-stated comments in an interview with Bloomberg, where he was asked about the next big risk that could threaten the world in the coming years.
"One thing that has seemed particularly important to me is how we handle future pandemics," SBF said, noting that the world was not ready when COVID-19 hit.
He said there was no coordination among countries in terms of what the response should be. Therefore, he expressed concern that there could be a "repeat of what happened" if another pandemic hits, killing many people while also bringing the economy to a halt amid the chaos and lockdowns.
"The biggest problem is that there weren’t that many lessons we really learned as a society," the billionaire said. "We are in much the same place we were beforehand. There’s almost no discourse about a future pandemic and almost no momentum."
The COVID-19 outbreak sent shock waves across global markets. Not only did it lead to supply chain bottlenecks, but it also resulted in a massive increase in monetary supply as countries attempted to nullify the impacts of the devastating economic hit with relief packages.
SBF noted that all of the measures "never
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