Conversation

SBF

@SBF_FTX

1) I'm honored to be testifying before the House Agriculture Committee tomorrow at 10am.

agriculture.house.gov

Hearings | House Agriculture Committee

2:42 AM · May 12, 2022Twitter Web App

Replying to

2) We have submitted an amendment to our DCO margin order to the CFTC. In short, it would implement a more conservative but otherwise similar margin model for FTX US Derivatives as FTX has run internationally. ftxpolicy.com/ftx-clearingho

SBF

@SBF_FTX

May 12

3) We think that by granting federal oversight of digital asset markets it would: a) provide equitable market access b) eliminate all data fees c) protect consumers d) protect against systemic risk e) increase US economic competitiveness f) increase futures competition

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SBF

@SBF_FTX

May 12

4) Today, 95% of volume trades offshore, with US consumers lacking deep liquidity, along with the transparency and protection that comes with federal oversight. CFTC oversight of digital asset futures exchanges would fix that.

SBF

@SBF_FTX

May 12

5) And we think that the margin model is safe and conservative: real time risk engines mean you neither have to preemptively liquidate days early, nor risk positions going underwater for days. ftxpolicy.com/ftx-guaranty-f

SBF

@SBF_FTX

May 12

6) TL;DR: If a competitor of ours ever has a margin order amendment before the CFTC, I promise to respect the CFTC and its process, and not to drag a whole House committee together to put anticompetitive political pressure on our regulatory system.