Crypto Billionaire Sam Bankman-Fried: People moving away from high-energy cryptos like Bitcoin

da-kuk/E+ via Getty Images Sam Bankman-Fried, founder and CEO of cryptocurrency exchange FTX, said Tuesday that users are already moving away from high-energy cryptos like Bitcoin to more energy-efficient choices, making the industry more environmentally friendly over time. Speaking to CNBC, Bankman-Fried explained that Bitcoin (BTC-USD) and Ethereum (ETH-USD), the two biggest cryptos, were also the ones using the highest level of energy. He noted that Ethereum was already taking steps to mitigate its energy usage, which leaves only Bitcoin as having a huge potential environmental impact. "Already you're starting to see that transition toward faster chains ... and other chains that are just built without energy use as the standard for measuring rewards," he said. Bankman-Fried also called for an updated regulatory regime in the U.S. surrounding cryptocurrencies. He noted that the U.S. Securities and Exchange Commission and futures regulators already provided some framework, but that these needed an update