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Bankman-Fried faces down roomful of futures industry insiders at CFTC roundtable -Breaking


At the CFTC Roundtable, Bankman-Fried will face down a roomful of insiders in futures.

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 Felded31 professionals share their questions and comments about the FTX.US proposal to allow clearing of margined product, crypto-based, without a futures broker (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’s Joe Cisewski stated that only six to eight clearing companies currently dominate the U.S. marketplace, and new competition is not a problem. As many present, Cisewski saw the need for a stronger regulatory framework to support this trading model.