FTX

A trust charter from the New York State Department of Financial Services enables digital asset companies to offer crypto trading and custody services in the ...

MacDonald joins FTX US from Fidelity Digital Assets to serve as CCO for the Company's to-be established New York State Limited Purpose Trust Company.

Ms. MacDonald, Chief Compliance Officer at FTX Trust, added, "After a rewarding tenure at Fidelity, I'm excited to dive deeper into the world of digital assets with one of the most regulatory forward and trusted exchanges in the space. FTX US is a U.S. regulated cryptocurrency exchange, built from the ground up. Her experience working in both traditional financial services and digital assets will make her invaluable to our efforts."

The digital asset exchange -- which boasts investments from celebrities including power couple Tom Brady and Gisele Bündchen -- has applied for a license to ...

Bringing in MacDonald as chief compliance officer — who also served in that role at Fidelity Digital Assets — allowed FTX to apply for a trust charter with the New York Department of Financial Services, which will bring FTX US markets to New York. To submit an application to operate in New York, companies have to appoint a chief compliance officer and a board of directors. New York is an infamously difficult regulatory environment to gain approval — and getting a foothold in this market would bring FTX services to an additional 20 million residents.

FTX US on Wednesday has applied for a trust charter with the New York Department of Financial Services in an effort to offer cryptocurrency trading services ...

Crypto exchange FTX has proposed changes to the existing US derivatives clearing rules, mostly by bringing automation.

As the intermediary or counterparty, to every trade, CME Clearing acts as the buyer for every seller and the seller for every buyer for every transaction on an exchange. As the intermediary or counterparty, to every trade, CME Clearing acts as the buyer for every seller and the seller for every buyer for every transaction on an exchange. In the existing market, FCMs collect all the margins and ensure the availability of enough margin for executing a trade or holding to a position. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. “A directional market subject to an auto-liquidation model has a tendency to be very procyclical and, thereby, this model could exacerbate financial instability in a time of heightened market volatility. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. FTX wants to bring the crypto market’s system to the traditional derivatives industry. Overall, a look at previous volatility tells us how likely price will fluctuate in the future, although it has nothing to do with direction.All a trader can gather from this is the understanding that the probability of a volatile pair to increase or decrease an X amount in a Y period of time, is more than the probability of a non-volatile pair. Why Too Much Volatility is a ProblemIn the FX space, lower volatile currency pairs offer less surprises, and are suited to position traders.High volatile pairs are attractive for many day traders, due to quick and strong movements, offering the potential for higher profits, although the risk associated with such volatile pairs are many. Overall, a look at previous volatility tells us how likely price will fluctuate in the future, although it has nothing to do with direction.All a trader can gather from this is the understanding that the probability of a volatile pair to increase or decrease an X amount in a Y period of time, is more than the probability of a non-volatile pair. Why Too Much Volatility is a ProblemIn the FX space, lower volatile currency pairs offer less surprises, and are suited to position traders.High volatile pairs are attractive for many day traders, due to quick and strong movements, offering the potential for higher profits, although the risk associated with such volatile pairs are many. Crypto exchange FTX has proposed changes to the existing US derivatives clearing rules, mostly by bringing automation.

Derivatives are financial contracts that let investors hold hedging or speculative positions at regulated U.S. exchanges overseen by the Commodity Futures ...

The posture of the futures industry is that crypto exchanges have risk management methods that are amateurish and unproven by comparison. Thursday’s hearing comes down to two points: Firstly, the futures industry is facing a new evolution milestone akin to when stocks and futures exchanges closed down their trading pits. In the FTX.US proposal, exchanges take on the task of onboarding retail clients, something that traditional futures exchanges do not offer. If a trade needs to be closed due to lack of funds, crypto exchanges could conceivably react faster than traditional finance because they are open all of the time. Futures exchanges today have fared well through recent financial crises, but even so the concentration of risk around very large FCMs could impact market stability if two or more of them were to go down after an unexpected global event. Second, Congressional leaders wish to have their voices be heard loudly and this meeting was scheduled before the May 25 CFTC public hearing on the topic, where it will evaluate the more than 500 public comments that came in through May 11. Five speakers will discuss the merits of the disruptive March 2022 FTX.US proposal to change the way that derivatives contracts are cleared and settled. Derivatives are financial contracts that let investors hold hedging or speculative positions at regulated U.S. exchanges overseen by the Commodity Futures Trading Commission (CFTC). In particular, the event will center on crypto derivatives, which let investors get exposure to digital assets such as bitcoin and ether. It is also worth noting that one of these major exchanges (ICE) is based in his home state. Despite the commercial success of FTX since 2019, there are powerful people who are not convinced the technology is up to the task of competing against the current way of doing things. In other words, they are likely to oppose the innovation because it could disrupt exchanges, even if the proposal’s scope of the change refers to a trading product that for now will only compete with CME crypto futures. Scott’s reaction reflected the industry’s startled reaction to the FTX.US proposal.

FTX CEO Bankman-Fried testified at a House hearing, defending his CFTC proposal to directly clear customer's margin-backed derivatives.

Shares of Robinhood Markets Inc. were rocketing in late trading Thursday after a filing revealed that Sam Bankman-Fried, the chief executive of...

It also comes amid a tough stretch for cryptocurrency markets. Bankman-Fried has amassed 56.27 million shares of Robinhood HOOD, +5.03%, according to the filing, which came out after Thursday’s closing bell. The stock has lost more than half its value so far this year, as of Thursday’s close.

Sam Bankman-Fried, the billionaire founder of cryptocurrency exchange FTX, has amassed a 7.6 per cent stake in online retail brokerage Robinhood, ...

Samuel Bankman-Fried, the chief executive and founder of cryptocurrency exchange FTX, revealed a 7.6% stake in Robinhood Markets Inc on Thursday, ...

Like many tech start-ups, Robinhood has yet to turn a profit, but even still, its earnings have disappointed investors. The company has struggled to meet Wall Street expectations since its IPO last year. Bankman-Fried said in the filing that it was possible that his position may evolve and he could end up pushing for changes.

Cryptocurrency exchange FTX CEO Sam Bankman-Fried and Emergent Fidelity Technologies Ltd. disclosed a roughly 7.6% stake in Robinhood Markets but said at ...

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