Unchained Podcast

  • Podcast
  • Book
  • Newsletters
  • Shop
  • Resources
    • Crypto Glossary
  • About
  • Contact
    • Sponsors
    • Press
    • Pitches
    • Confidential Tips
  • Log In
  • Log Out

April 29, 2022by Laura Shin

FTX Wants to Compete With CME — Here’s Why It’s a Big Deal

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 financial industry titans. 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 inefficient
  • 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

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021     

Coinchange: https://coinchange.io   

OnJuno: https://onjuno.com/ 

Galaxis: https://galaxis.xyz/ 

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/ 

Posted in: 2022, Shows, UnchainedTagged in: CFTC, Chris Perkins, CME, CoinFund, crypto, FTX, FTX.US, regulation

Our guest on this episode:
Chris Perkins, President of CoinFund

Chris Perkins

President of CoinFund

© Copyright 2022 Laura Shin Media LLC. All Rights Reserved.

Website by Zach Swinehart.

  • Podcast
  • Book
  • Newsletters
  • Shop
  • Resources
    • Crypto Glossary
  • About
  • Contact
    • Sponsors
    • Press
    • Pitches
    • Confidential Tips
  • Log In
  • Log Out

Unchained Podcast

  • Podcast
  • Book
  • Newsletters
  • Shop
  • Resources
    • Crypto Glossary
  • About
  • Contact
    • Sponsors
    • Press
    • Pitches
    • Confidential Tips
  • Log In
  • Log Out