SBF Profile picture
28 Dec 20, 7 tweets, 2 min read
1) FTX lists lots of products.

How do we avoid clutter?
2) NOT INVESTMENT ADVICE
3) To some extent there *is* clutter.

But also we do things to reduce it.

The biggest is margin.
4) FTX cross-margins *everything*. Spot, futures, FX, stocks, margin, prediction markets, perpetuals...

This means that, when we add a type of product, we don't need a new 'zone' or wallet or liquidation point.

It's all just in ftx.com/wallet.
5) FTX spot margin is super clean:

You can deposit, and withdraw, and trade, as long as you don't go beyond your margin limits.

You don't need to actively borrow or shuffle funds; that's automatic.

And all our futures are on the same margin system.
6) If you *want* to split things out, you can do so however you want by using separate subaccounts.

So while ftx.com/markets keeps growing, at least you don't need to manage 50 different wallets!
7) Anyway, long story short:

more markets!

ftx.com/trade/BTC/AUD
ftx.com/trade/BTC/EUR

AUD/EUR/CAD/GBP are also now available on margin! Borrow, lend, and margin trade instantly.

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More from @SBF_Alameda

28 Dec 20
1) I talked with @VitalikButerin about L1s: ETH, SOL, others.

Here are some notes.
2) NOT INVESTMENT ADVICE

@VitalikButerin -- if I get your thoughts wrong here, definitely call me out on it!

And also feel free to give more color.
3) After our panel on effective altruism, Vitalik and I talked about a bunch of stuff; one topic was on different layer 1 blockchains.

My main question was:

What does he think makes an L1 better, or worse?
Read 25 tweets
22 Dec 20
1) The Ecosystem, Part 1:

Getting Dressed
2) NOT INVESTMENT ADVICE

and even more importantly, not clothing advice
3) This story ends with @bonfida, but it starts with @SushiSwap.

By now pretty much everyone knows the story:

The meteoric rise, the sudden crash, the dormant period, and the recovery.

This story starts at the lowest point: right after the migration.
Read 25 tweets
19 Dec 20
1) Proposed FinCEN rules
2) NOT LEGAL ADVICE

I've read through the doc once but I'm not confident in my takes on it.

public-inspection.federalregister.gov/2020-28437.pdf
3) I think really the place to start is in the Request for Comment section.

It's easy to think of regulators as unfeeling, faceless harbingers of doom. They're not.

In general, they try to be reasonable.

There are a number of requests, but all sound like this:
Read 16 tweets
18 Dec 20
1) I’m honored and excited to be chatting with @VitalikButerin and @hosseeb about effective altruism, giving, and how you can maximize your positive impact on the world!

ftx.medium.com/effective-altr…
2) The conversation will be at December 22nd, 5pm PST = 23rd, 9am HKT, co-hosted by @dragonfly_cap and @FTX_Official
3) And in the run-up, each of Vitalik, Haseeb and I will be giving away $50k to one of the world's most effective charities.

You can vote on which one gets the donation!

Read 4 tweets
17 Dec 20
1) Better is Bigger, part 3:

What does bigger look like?
2) NOT INVESTMENT ADVICE
3) Especially if you're altruistic, a huge amount of the value in the world is in aiming big:
Read 22 tweets
12 Dec 20
1) Better is Bigger, part 2:

No really, better is actually bigger.

2) NOT INVESTMENT ADVICE
3) The core thesis of Better is Bigger is basically math: that the scale of the world's problems is huge, and so you should be much less risk averse if your goal is to donate.

This post is not about that math. This post is about people, and the world, and some history.
Read 33 tweets

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