Wu Blockchain (@WuBlockchain): SBF on the Financial Crisis: A Risk System More Transparent Than Traditional Finance
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SBF on the Financial Crisis: A Risk System More Transparent Than Traditional Finance FTX founder SBF @SBF_FTX 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.