SBF on the Financial Crisis: A Risk System More Transparent Than Traditional Finance FTX founder SBF claimed at a U.S. congressional hearin…
SBF on the Financial Crisis: A Risk System More Transparent Than Traditional Finance
FTX founder SBF claimed at a U.S. congressional hearing in December 2021 that his platform had a 24/7 risk engine, without the overnight, weekend, or holiday risks seen in traditional assets. He also said market data was open and free, with transparent risk parameters.
He argued the 2008 financial crisis was caused by bilateral, customized, unreported trades being repeatedly packaged and leveraged, leaving risks hidden. After FTX's collapse, those claims about innovation and transparency now read like a sharp indictment of SBF himself.
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