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

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

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

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

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

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