Jack Tao, CEO of Phemex, on Building The Fast Growing Cryptocurrency and Derivatives Exchange In The World

Jack Tao, CEO of Phemex began his career in high-level traditional finance before entering the crypto space. After 10 years with Morgan Stanley, he discovered bitcoin and crypto and set out to develop a superior exchange. Since Jack's recent arrival to the crypto space, his expertise in legacy markets has resulted in his trading platform's meteoric rise through the ranks, all while setting new trends around the ways traders pay fees and interact with derivatives. 

Scott Melker and Jack Tao further discuss the transition from the traditional financial sector to a non-traditional sector, lessons learned interning at Morgan Stanley right before the 2008 crash, who is behind big price movement, the interactions between an exchange and a whale, how many Bitcoins it takes to be a whale, common misunderstandings around leveraged positions, the chaos of the American political climate and the origin of the name ‘Phemex.’

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