FTX CEO will defend crypto derivatives in front of US Congress.

12 May, 2022

Speakers are set to discuss the disruptive FTX.US proposal that claims to change the way that derivatives contracts are cleared and settled.

The CME Group CEO Terrence Duffy, crypto billionaire Sam Bankman-Fried, ICE executive Christopher Edmonds will be among the speakers.

Heads of the CME, ICE, and FIA are likely to oppose the innovation and favor the existing status quo clearing model.

Bankman-Fried is expected to face tough questions from the congress.

The FTX.US proposal has caused fear in sectors that depend on the current structure that has been in place for decades to trade futures. 

Bankman will make a case for his proposal that onboards retail clients.

FTX CEO Sam Bankman-Fried will defend crypto derivatives in front of the US Congress amid the ongoing crypto market crash.