FEATURE: CFTC roundtable on FTX proposal highlights barriers in clearing of digital vs physical assets by the_postman_
The CFTC has been working on FTX’s proposal to allow a relatively new market structure for its derivatives trading for much of the past year, including several months of open public comment.
Stakeholders from the derivatives trading industry appeared in force, with representatives from exchange operators CME and ICE joined by others from Citi, Goldman, FTX, Citadel, JPMorgan and BlackRock. Consequently, the specifics of crypto trading loomed large over the conversation — though even FTX has very much left open the door to applying this model to other assets down the road., the overall conversation avoided bombast. This may largely be due to the density of the conversation, which focused on fairly wonkish parts of market structure.
“In a scenario with the auto-liquidation scheme,” said Nelson Neale of the National Council of Farmer Cooperatives. “For a crypto trader, a bad day certainly, but perhaps not as bad as if we consider the same situation for the average American farmer.” “When you’re looking at physical agricultural products,” answered Bankman-Fried. “I don’t want to say those are unsolvable problems, but those are problems that would require further work and further thought.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coinbase introduces crypto to Fortune 500 while FTX CEO featured in TIME 100The mainstream is taking notice. coinbase joins the prestigious Fortune 500 rankings, while TIME magazine lists SBF_FTX as one of 2022's most influential people. (Reporting via tomfarrencrypto)
Read more »
FTX CEO says he could spend 'north of $100 million' during US elections in 2024Sam Bankman-Fried, chief executive of crypto exchange FTX, said Tuesday that he could spend significant funds during the 2024 election cycle in the United States.
Read more »
FTX CEO says he could spend 'north of $100 million' during US elections in 2024Sam Bankman-Fried, chief executive of crypto exchange FTX, said Tuesday that he could spend significant funds during the 2024 election cycle in the United States.
Read more »
Impatient Florida truck driver loses back wheels by driving over concrete pillarsA semi-truck driver got a little impatient while struggling to clear safety barriers on a turn in Doral Friday, May 20. FOX13
Read more »
Federal Reserve Uncovers Interesting Trends in U.S. Crypto Ownership | CoinMarketCapThose using digital assets for payments are more likely to lack a bank account or credit card — indicating crypto has been embraced by an audience traditional institutions struggle to reach.
Read more »
Bitcoin and the Stock to Flow Model | Binance AcademyThe Stock to Flow model treats Bitcoin as a scarce digital asset that should retain its long-term value, potentially better than gold or silver.
Read more »