There were some partnerships there. there had to be; each trade relied on like 12 companies coming together.
The buyer, the retail broker, the PFOF firm, the dark pool, the prime broker, the clearing and settlement, the exchange...
3) And then again on the seller's side.
And maybe an ETF issuer and an AP while you're at it.
But given that, things were pretty cutthroat.
Not fucking each other over actively--at least where I was, there was a strong ethos against doing anything that seemed negative-sum.
4) But the industry is defined by competition. You wouldn't wander into one quant shop and see them shooting the shit with another. Exchanges don't really work together on much.
Which isn't shocking! They are, after all, in competition.
2) There are a ton of ways that we can work with others!
From ftx.com/pay to FTX whitelabels to ftx.com/nfts to liquidity to otc.ftx.com to branding to investments to advising, our surface area is only growing.
3) The potential of our partnerships gets bigger each day.
This also means, though, that we're unlikely to be able to guess everything ahead of time.
And so when we partner with people, a _bit_ thing we try to figure out is:
(a) we had a particularly type of logging turned on
(b) do to a bug in a maintenance process, Cloudflare accidentally routed logs to one of their shut-down servers
(c) this triggered their DDOS systems
Ok; let's say that your goal is to build the most ambitious plausible DeFi ecosystem: one that could end up with a substantial fraction of the world's economy on it.