Exchange Challenges
Sam discusses the complexities of running a cryptocurrency exchange, highlighting the critical importance of not losing customer funds. He reflects on the failures of major exchanges in 2018, particularly their inability to manage risk effectively, which led to significant losses for users. The conversation reveals that consistent mismanagement of liquidations was a common issue, underscoring the need for robust systems to protect investors.In this clip
From this podcast
Acquired
FTX (with Sam Bankman-Fried & Mario Gabriele)
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