Bankman-Fried faces down roomful of futures industry insiders at CFTC roundtable -Breaking
Sam Bankman Fried, CEO of FTX did a lot talking Wednesday at the United States Commodity Futures Trading Commission’s (CFTC) staff roundtable discussion on non-intermediation. He FieldedQuestions and concerns from 31 industry professionals regarding the FTX.US request to clear margined products without a futures merchant (FCM).
Many participants felt the need to mention their devotion to innovation and declared that they do not see the proposed new technology as an “us versus them” situation. Pantera Capital CEO Joe Cisewski said that only six or eight clearinghouses currently dominate the market, therefore new competition is not a problem. He saw the need to create a more regulatory framework in order for new trading models.