The 29-year-old crypto billionaire called the move 'a step in the direction the industry is headed.'
the Antigua-based company is removing high leverage starting Sunday by capping margin trading at 20 times invested capital, significantly lower than the exchange's previous limit of 101x.
Bankman-Fried, the 29-year-old billionaire who founded FTX in 2017, also said the restrictions would only impact a"tiny fraction" or"way less than 1%" of the company's trading volume, which over the past 24 hours totaled more than $876 billion .
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
How clicks on a job platform can reveal bias'When deciding whether to hire a candidate or not, gender, origin or ethnicity sometimes also play an important role; factors that say little about a candidate’s suitability for a job.'
Leer más »
Lessons from Britain on the balance between monetary and fiscal policyA former governor of the Bank of England branded quantitative easing “a dangerous addiction”, arguing that the trade-offs involved were only acceptable as a temporary measure
Leer más »
Alex Reid celebrates with daughter as she returns home from hospital with mumFormer Celebrity Big Brother winner Alex Reid has become a dad for the second time following a seven-year IVF battle with fiancée Nikki Manashe
Leer más »
Self-made billionaire Thomas Tull on becoming rich, and how Warren Buffett changed his thinkingBillionaire Thomas Tull gets personal with CNBC Make It about everythhing from being raised by a single mothe to the habit he got from Warren Buffett.
Leer más »
Russia excludes senior Communist candidate from parliamentary voteRussian electoral authorities on Saturday barred a well-known Communist Party candidate from running in September's parliamentary election, the latest high-profile opposition figure to be disqualified from the vote.
Leer más »
A tax loophole is helping bitcoin holders save tons of cash by avoiding federal taxesWith crypto tokens, wash sale rules don't apply, meaning that you can sell your bitcoin and buy it right back, whereas with a stock, you would have to wait 30 days.
Leer más »