Here Are 2 Things to Increase Crypto Trading According To FTX Brett Harrison

Here Are 2 Things to Increase Crypto Trading According To FTX Brett Harrison.

Brett Harrison, the president of FTX, a cryptocurrencies exchange, spoke in a recent interview with Fortune about two things that can increase crypto trading significantly. 

Responding to Random Social Media Inquiries

The president tries to make crypto trading as easy and fast as possible, even if it means responding to random comments on social media.

Harrison said, “I think we are the only company in the world where you can like, basically, mention @SBF_FTX or @Brett_FTX…and like nine times out of 10, you’ll probably get a response—if not from us, from someone else at FTX.” 

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 “We just constantly asked, ‘Hey, guys, what do people want? What’s working? What’s not working?’ And just getting responses on Twitter or Telegram, I think that’s an edge for us,” added him.

Two Events Bring Significantly More Volume in  Crypto Trading

Harrison said the company may be looking to license the platform or acquire users, or even get into retail after acquiring derivatives platform LedgerX last year, saying “ “I think the retail segment is really the next kind of frontier for us.”

Even as more retail traders trade online or via apps, crypto remains the next frontier for many investors.

“There are two events that would probably bring significantly more volume. One is crypto prices going up again, sure…that’s also true for stocks. Number two, I think, is when there’s actually regulatory clarity over crypto exchanges,” said the president.

In the words of Arkansas Republican John Boozman, three senators introduced a bill last month, “

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“Empower the CFTC with exclusive jurisdiction over the digital commodities spot market, which will lead to more safeguards for consumers, market integrity, and innovation in the digital commodities space,” he said.

He added ““But let’s say that passes, and now the CFTC has oversight over, you know, Bitcoin and Ether, and FTX.US is able to register as a digital asset exchange. Every institution, every hedge fund, every family office mutual fund who wants to get exposure directly to crypto can do so on an exchange that’s explicitly federally licensed. I think that will make a huge difference.”

A hypothetical solution offered by Harrison could include an interagency agreement between the SEC and the Commodity Futures Trading Commission, where each would play to their strengths.

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Jamilatul Mahmudah

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