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SBF：
, the original author: Ksenija Pavlovic McAteer, compiled by Odaily translator Katie Ku.
We welcome regulation, we love to discuss it, and we know regulation will come.
FTX is for everyone. Institutions, individual groups and retail investors are welcome.
Authenticity is really important, but people often don't pay enough attention to it.SBF is an intuitive person. If you search his name, there will be "2021 Forbes 400 list of billionaires
" title, but I'm not sure that's the best way to introduce him. SBF is also the second-biggest pusher in Biden's campaign, with more than $5 million in personal donations, behind only Bloomberg founder Mike Bloomberg.
SBF, who looks laid-back and wears a black sweatshirt with the letters FTX on it, looks like a non-conformist figure, straight to the point that he doesn't try to fit in. His own demeanor is a kind of rational rock madness, but the superficial cool masks his real side. SBF is an expert in data science, and his effective altruistic behavior is based on a deep understanding of utilitarian philosophy. He thinks faster than he can speak, and he charts the trajectories of his thoughts in his mind. SBF will be a master chess player because he always looks to the future.
What follows is an exclusive interview with FTX CEO and founder Sam Bankman Fried (SBF) by White House Correspondent Ksenia.
Only 3 years into the field of cryptocurrency exchanges, SBF has led the trend of DeFi, attracting big players and NFL (National Football League) wizards to join, but this is only the tip of the iceberg. SBF is a calm and charismatic person, and he is also a member of thousands of people. SBF is you and me.
Graduating from a prestigious school and coming from a family of lawyers, success seems to come naturally. But SBF has dreams and has the power to act. He wants to create something of his own and manage it with his heart. For SBF, choosing one's own path means going forward bravely in the unknown. However, his path has not been smooth sailing. "The only way to find the answer is to try" - this is the truth he understood during the exploration process. His values are still the basic principles of his work, and he also stated that he will not cross the moral red line in his heart on the road to leading the era of decentralized finance.
SBF believes that under a magnifying glass, when you start your own business, you will definitely attract a lot of attention, and many of them are competitions of interests. After a pause, he said that making decisions is difficult because there are many stakeholders involved. There are himself, shareholders, employees, regulators, and user groups who occupy seats. So do what you can, there is no right answer.
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SBF's attitude: "Facing the problem, do it directly"
SBF's FTX company is a fast-growing decentralized financial platform and a legendary story of encryption exchanges. In September, its business territory has expanded to Gibraltar and the Bahamas.
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Pictured is SBF and his team celebrating regulatory approval of the Bahamas Digital Asset Registration Act
SBF's vision for FTX is mainly divided into two parts. One is that FTX is committed to providing users with a safe and convenient way to buy and sell cryptocurrencies. Provide users with a platform at the first time, and at the same time create an effective market with a large user base. For old users, FTX hopes to be able to conduct hedging-related transactions in a way of scale, comfort, directness and trust in traditional financial markets, which is often not seen in cryptocurrencies.
The second is about FTX business. SBF stands for creating an economic portal for users, offering an experience you don't see in most options. Currently people have to switch back and forth between five different apps and products. They can save their salary, they can spend it, they can invest in cryptocurrencies, they can invest in stocks. These are all different platforms and moving funds between them is a pain. Every step involves trust issues, which is a bad user experience. A coherent user experience is something FTX is trying to achieve.
At FTX, SBF is trying to create a platform where people can use their funds smoothly, coherently and holistically. A way to be accessible.
This young giant of the global financial market brought the crypto world into the public eye and aroused interest. Although he couldn't be a professor of mathematics, he could always explain complex problems in a simple way, which is the way all great minds think.SBF believes that the difference between cryptocurrency platforms like FTX and traditional exchanges is that when you want to trade in the stock market, you want to know the order book and quotes, but the data is not publicly available. You need to pay to get information about fundamental market data. For example, if you want to know the price of an Apple product, you need to pay first, otherwise they will not tell you the final transaction price. From fairness to access to efficient markets, everyone should have free access to this data, or keep it completely private.
The key driving force behind SBF's decision-making is how he can bring FTX products to thousands of users.
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How does SBF attract retail investors without mature investment knowledge into the door of cryptocurrency?SBF: "FTX is open to everyone. We welcome institutions, individual groups, and retail investors. On the one hand, the trading volume of FTX has surpassed Coinbase, Kraken, Bitstamp, and Bittrex exchanges, and even exceeds the sum of these exchanges. We currently have the world's second largest Open trading platform. On the other hand, from the data, the number of users of Coinbase is 30 times that of ours, largely because we only started in 2019.
SBF explained: “Many exchanges have tens of millions of users, and we haven’t been around long enough to build a global reputation. We’re not the first place people think of when they buy bitcoin. But we’ve built a really cool platform. , and is expanding in size and market share. We provide new users with many convenient mobile app cleansing. Users can easily access account funds through credit cards and bank transfers."
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SBF's marketing campaign for FTX has been very aggressive, and the company has successively won the support of celebrities, but this is only the beginning of his forward-looking marketing strategy.
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The picture shows FTX signed a long-term sponsorship agreement with F1 team Mercedes-AMG
SBF said: "We do hope to catch up in terms of branding, we can buy a lot of Google ads, a lot of Facebook ads, maybe it works, but it doesn't represent us. Benefit tens of millions of people, even hundreds of millions of people in an attractive way. In a way that can represent the value of FTX.
SBF believes that people who have little trust in banks are more likely to choose other ways to store assets. This is true for countries with unstable political systems and unreliable banks, such as Venezuela's inflation.
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SBF welcomes regulation
Alternative payment systems have started to become common primary payment systems and primary banking systems in many countries because this is how they can build an efficient network. And these systems are bound to be regulated.FTX investor Kevin O'Leary has made a bold call for regulators to work with the community, not against it.SBF said: "We invite regulators to join, we welcome dialogue, we know this is the general trend. What matters now is how to cooperate with regulation. Simply shutting companies down is not regulation, this is not the solution we seek, and it is not regulation. Purpose. Clear regulation is beneficial, it's an open dialogue between companies and regulation. It's the way to make sure things are regulated, not to create barriers to innovation, we'll see.
The most prominent cryptocurrency players, including SBF, worry about entering a new industry and running into obstacles that could lead to capital flight due to a lack of business regulatory cooperation.
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Be tolerant to diversity, tolerance is a virtue
SBF: "We must welcome voices from all sides. I can make a product that serves me, but it's not for me personally. What matters is the needs of users."
SBF is moving all operations to the Bahamas. He has built a multicultural and diverse team over the years, driving his deep understanding that cryptocurrency is a truly global business. Different cultural perspectives continue to influence his decision-making.
SBF is an avid reader of utilitarianism who sees cryptocurrency as the new frontier for personal liberty and the happiness of the majority,
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Keeping grounded is the way SBF gets along with the encrypted world
SBF is one of the rare self-made members of the billionaire club, but he never hangs out with the plutocrats, but he can be seen everywhere at FTX, interacting with people and trying to stay grounded. He hopes to understand the first-hand situation and grasp the pain points of users as soon as possible. He believes that the most important thing is to do his daily work well, which is also his way of decompression. At FTX, SBF has a policy that no one should spend more than 50% of their time doing management, but spend at least half of their time really dealing with problems and doing practical things.
SBF is leading FTX to a bright future, will you be the next participant?
