A key component of how FTX moved up the crypto exchange leader board was taking a more authentic approach to marketing and public relations, according to CEO Sam Bankman-Fried.
Before FTX was facilitating in billions of dollars in trade volumes and its name was plastered on Miami Heat's stadium, it was a scrappy upstart venue"coming from behind," as founder Sam Bankman-Fried put it in a recent podcast with The Block.
A key component of how the firm moved up the crypto exchange leader board was taking a more authentic approach to marketing and public relations, Bankman-Fried noted."There is this sort of thought in media and PR that I think a lot of people have. I don't know if they explicitly have it, but I think they at least implicitly have it: that inauthenticity is the correct decision.
While he admits that some of his tweets have been"dumb," he thinks that a more inauthentic approach can breed contempt among users. He noted Facebook as one example. "One thing we've seen with Facebook or Meta now is they have tried to keep their head down a lot," he said."And I think inauthentic is almost like their brand strategy."
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