FTX Wants to Compete With CME -- Here's Why It's a Big Deal - Ep.346
Unchained
Intro
This chapter opens with gratitude for listeners and introduces the podcast's focus on cryptocurrency. It highlights crypto services for passive income, insights from Crypto Bahamas, and the growing government and institutional interest in the industry.
Chris Perkins, president of CoinFund, a web3 investment firm, discusses his experience at the Crypto Bahamas conference before diving into an FTX.US proposal that would allow for direct trading of crypto derivatives in the US – which appears to be rocking the boat of certain regulators in D.C. Show topics:
- Chris’s two biggest takeaways from his Crypto Bahamas experience
- how Chris’s experience at Lehman Brothers and Citi prepared him for crypto
- what issues arise via the plumbing of traditional financial markets
- why centralized intermediaries make derivatives trading efficient
- what FTX.US is proposing and how it could be a boon for retail traders
- how crypto settlement would work compared to the current batch trading method
- why the acquisition of LedgerX enabled FTX.US to make this proposal
- what license FTX.US feels like it no longer needs since it can settle derivative transactions on a blockchain
- whether FTX.US would expand to other derivatives and what that might do to an entity like CME
- what Chris is listening for in the CFTC’s public discussion surrounding FTX.US’s proposal
- whether FTX.US’s proposal will be a partisan issue
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
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Episode Links
Chris Perkins
- LinkedIn:
- Twitter:
- CoinFund:
Coverage of the FTX.US Proposal
- Bloomberg: https://www.bloomberg.com/news/articles/2022-04-21/crypto-billionaire-rankles-wall-street-with-futures-trading-plan?sref=m9L277rN
- Forbes:
- The Block:
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- https://www.theblockcrypto.com/linked/143792/as-it-weighs-ftx-proposal-cftc-announces-a-roundtable-on-disintermediation
- https://www.theblockcrypto.com/post/137304/cftc-opens-up-ftx-uss-derivatives-trading-model-to-public-comment
- https://www.theblockcrypto.com/linked/140026/ftx-derivatives-proposal-takes-center-stage-at-congressional-hearing-with-cftc-chairman
- CoinDesk
- Public comment:
- May roundtable:
- CME opposition to proposal:
Unchained Coverage of FTX.US and LedgerX
- 2021:
- 2019:
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