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

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 4 October 2022

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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 Thank you to our sponsors! Crypto.com a16z Chainalysis 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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey all, for this week's show, I talk to Sam Bigman-Fried, founder and CEO of FTX.
0:06.0	Who, as I'm sure you're aware, spends more time in Washington, D.C. than most crypto entrepreneurs.
0:12.0	He had some surprising things to say about crypto regulation.
0:15.0	First, he's actually pretty sanguine about the prospect for regulatory clarity to come soon in the U.S.
0:21.0	Second, he also said, and this was a big shocker to me,
0:24.0	that the implosions of three arrows capital and Terra haven't changed the conversation about crypto very much in Washington.
0:31.0	Given that he's so active in talking to regulators and lawmakers, plus a huge political donor,
0:36.0	I asked him a bit about his views on that, how much of his giving is driven by his belief in effective altruism,
0:42.0	and how much of it is driven by his interest in helping the crypto industry grow.
0:46.0	What I enjoyed about this part of the conversation is the nuance with which Sam spoke.
0:51.0	We also cover some of the big line top news in crypto, the bear market, the merge, stablecoins, etc.
0:59.0	And I asked him about the vision for FTX as a centralized company in a decentralized space.
1:04.0	Just FYI, we recorded before news broke that he'd reached out to Elon Musk expressing interest in potentially buying Twitter,
1:12.0	as part of a joint effort, and before FTX had won Voyager's assets,
1:17.0	and before it was reported that FTX was considering purchasing Celsius's assets.
1:22.0	However, I've put links to all these developments in the show notes.
1:26.0	This was a super fun conversation, and I hope you enjoy it as much as I did.
1:30.0	Now on to the show.
1:35.0	Hi everyone, welcome to Unchained, your no-hype resource for all things crypto.
1:39.0	I'm your host Laura Shin, author of The Cryptopians.
1:43.0	I started covering crypto seven years ago, and as a senior editor at Forbes,
1:47.0	was the first mainstream media reporter to cover cryptocurrency full-time.
	...

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