FTX Wants to Compete With CME -- Here's Why It's a Big Deal Unchained

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
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Episode Links
 
Chris Perkins
LinkedIn: 
​​https://www.linkedin.com/in/christopher-perkins-092569a/


Twitter: 

https://twitter.com/perkinscr97 

CoinFund: 
​​https://twitter.com/coinfund_io 

 
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:
https://www.forbes.com/sites/jasonbrett/2022/04/27/the-ftx-us-proposal-that-shook-congress-and-the-crypto-derivatives-world/

The Block:

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
https://www.coindesk.com/business/2022/03/10/ftxus-derivatives-unit-seeks-cftc-amendment-to-clear-margin-trades-directly-for-customers/

https://www.coindesk.com/video/recent-videos/ftx-us-to-meet-with-cftc-regarding-derivatives-trades/ 

Public comment: 
https://www.theblockcrypto.com/post/137304/cftc-opens-up-ftx-uss-derivatives-trading-model-to-public-comment

May roundtable: 
https://www.cftc.gov/PressRoom/PressReleases/8519-22
https://www.coindesk.com/policy/2022/04/19/ftx-plan-said-to-face-cftc-roundtable-next-month/
https://www.theblockcrypto.com/linked/143792/as-it-weighs-ftx-proposal-cftc-announces-a-roundtable-on-disintermediation

CME opposition to proposal: 
​​https://www.marketsmedia.com/cme-to-oppose-ftx-clearing-proposal/


 
Unchained Coverage of FTX.US and LedgerX
2021:

https://unchainedpodcast.com/why-the-ftx-us-ledgerx-deal-indicates-crypto-ma-might-start-booming/ 

2019:

https://unchainedpodcast.com/ledgerx-on-the-reasons-to-trade-bitcoin-options/ 


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