Fried, the founder of the world's third largest cryptocurrency exchange in terms of trading volume, FTX, compared Ethereum and Solana in his latest interview, which was reflected in the media.
Bankman-Fried believes Ethereum will gain wide institutional acceptance. It also highlights composability concerns surrounding ETH 2.0. The native composability concern is based on DeFi applications causing problems in their operations.
According to Bankman-Fried's views; Solana (SOL) could be subverted by another rival blockchain. Solana has managed to become the fifth largest cryptocurrency by market cap. When asked about Solana outpacing Ethereum, Fried said; "It can happen. But maybe it will never happen." gave the answer.
When asked about the criteria people should consider when choosing a particular cryptocurrency project, Fried said that investors should follow the meme token craze. According to Fried, meme culture is very important and this community drives the market.
However, the successful entrepreneur warned investors about the risks of meme tokens. Prank coins like Dogecoin and Shiba Inu have had incredible rallies and astonishing returns this year. On the other hand, the Squid Game token scam caused a painful loss to market investors.
Sam Bankman Fried advised investors to act on the possibility of losing 90% of their funds.