Jack Farley sits down with Kevin March, founder of Floating Point Group, to dive into the details of the collapse of cryptocurrency exchange FTX. March explains why he believes FTX might have been a “Bucket Shop,” a phrase used to describe an institution that gives clients synthetic exposure to assets without actually transferring or delivering them. March and Farley discuss FTX’s atrocious risk management process, its faulty cross-margining system, and its defective hedging protocols. March shares how he thinks the crypto space can move forward from this moment and offers his outlook on crypto liquidity in 2023. Filmed on November 29, 2022, at Algorand’s Decipher conference in Dubai.
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