Unchained

Sam Bankman-Fried on How to Prevent the Next Terra and 3AC - Ep. 403

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Sam Bankman-Fried, founder and CEO of FTX, discusses his views on crypto regulation, macroeconomics, and the role of FTX in a decentralized industry. 

 

Show highlights:
  • whether the market has already bottomed and the influence of macroeconomics
  • why Sam thinks regulation could have a significant impact on the crypto industry
  • the impact of the Terra collapse, Sam’s thoughts on stablecoins, and the importance of disclaimers
  • what the industry can do to prevent high leverage from crypto companies like Three Arrows Capital
  • how crypto lenders should manage risk in a sustainable way
  • whether the crypto collapses affected the opinion of lawmakers and regulators
  • the topics and proposals that Sam is discussing with regulators and his philosophy on financial regulation
  • what Sam thinks about building a centralized entity in a decentralized space
  • what it would take for FTX to move back to the United States
  • why Sam’s political donations more commonly support Democrats, among which are some prominent critics of crypto
  • whether he makes political donations based solely on candidates’ crypto stances
  • the role of FTX in the TradFi market and whether crypto and TradFi will evolve toward or away from each other
  • concerns about potential conflict of interests between FTX and Alameda Research
  • the impact of the Merge, the value proposition of Ethereum and whether it affects the narrative of Bitcoin as digital gold
  • how FTX is positioning itself in this macroeconomic environment 
  • the type of acquisitions FTX is interested in

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    Episode Links

    Sam:

    • Twitter

     

     Bailouts and Acquisitions

    • FTX raising $1 billion in funding
    • FTX’s acquisitions had ‘mixed results’
    • Voyager Digital Auction
    • Celsius Possible Acquisition

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      Stablecoins and Regulation

      • Bankman-Fried Says He’s ‘Surprisingly Optimistic’ U.S. Will Devise Crypto Rules Within A Year
      • Stablecoin Draft Bill
      • Yellen cites UST stablecoin risk after it loses its dollar peg
      • Previous Coverage of Unchained on Stablecoins and Regulation:
      • Why Senator Pat Toomey Thinks SEC Chair Gary Gensler Is Wrong About Crypto
      • Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed

        • Donations and Politics

        • Giant crypto exchange founder Sam Bankman-Fried promises to give away most of his $21 billion fortune
        • Political donations
        • Sam Bankman-Fried is Democrats' largest donor in May

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          Alameda Research Concerns

          • Crypto Quant Shop With Ties to FTX Powers Bankman-Fried's Empire

           

          Collapse of Crypto Companies

          • Celsius bankruptcy filing
          • Voyager Digital bankruptcy filing
          • Three Arrows Capital bankruptcy filing

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            FTX proposal to clear derivatives

            • New method of clearing
            • Previous coverage on Unchained: 
            • FTX Wants to Compete with CME – Here’s Why It’s a Big Deal

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              Interest in buying Twitter

              • Text messages reveal Sam Bankman-Fried's guru told Elon Musk the crypto billionaire was 'potentially interested' in buying Twitter

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              UnchainedBy Laura Shin