FTX's plan to cut out intermediaries in settling crypto derivatives trades is 'fraught with danger,' CME chief Terry Duffy told lawmakers Thursday. jesseahamilton reports
FTX chief Sam Bankman-Fried spent hours before U.S. lawmakers Thursday defending his effort to allow customers to directly clear margin-backed crypto derivatives. The existing derivatives industry and its allies argued he’s seeking a power that could stretch well beyond crypto.
"The risk of this going into other markets is extremely detrimental," Duffy told lawmakers."This is a proposal that's fraught with danger.""We do not have any plans to launch non-digital asset contracts any time soon through this model," he said."I'm not lying to you,” Bankman-Fried insisted at one point. “I really do mean this."
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FTX US applies for trust charter in New YorkIf approved, the licensed trust will be run by Fidelity Investments veteran Marissa MacDonald, who will assume the role of chief compliance officer.
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FTX poaches Fidelity exec as crypto exchange nears NY approvalFTX, the $32 billion global crypto exchange, is gearing up to take on the final frontier: New York.
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FTX poaches Fidelity exec as crypto exchange nears NY approvalFTX, the $32 billion global crypto exchange, is gearing up to take on the final frontier: New York.
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FTX US applies for trust charter in New YorkIf approved, the licensed trust will be run by Fidelity Investments veteran Marissa MacDonald, who will assume the role of chief compliance officer.
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FTX CEO Sam Bankman-Fried Buys 7.6% Stake in RobinhoodJUST IN: FTX CEO SBF bought a 7.6% stake in $HOOD worth almost $482 million at Thursday's market close. realDannyNelson reports
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