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Brett Harrison - FTX US Former President & HFT Veteran Speaks Out
Dwarkesh Podcast
Auto Liquidation Is Not New
The idea of auto liquidation is not new uh the idea of direct to customer clearing is not new. The thing i think that was novel about ftx was putting all it all together he was direct to customer margining cross-claritalization auto liquidation and so in order for the regulators to get comfortable with the application they had to understand that ftx was one entity performing the roles that typically multiple different entities perform. It remains to be seen whether this model actually works better or worse than traditional ccp's I think either way it was worth a try.
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