177: Sam Bankman-Fried Leaving Wall Street, Entering Crypto Chaos

Published: July 22, 2019, 8:05 a.m.

This episode features Sam Bankman-Fried, who\u2019s trading skill originated from 3-years at Jane Street\u2014a proprietary trading firm renown for being one of the world\u2019s largest ETF liquidity providers.\nIn late-2017, Sam relocated to Hong Kong and began his foray into the cryptocurrency market when he co-founded Alameda Research. Alameda trade a range of quantitative strategies\u2014such as statistical arbitrage and market making\u2014which are mostly automated, but with a layer of human intervention.\nWithin 2-years Alameda has grown to a point, where each day, it does approximately one billion dollars of turnover across 35 exchanges, accounting for somewhere near 5% of global crypto volume.\nSam and I got to discuss many aspects of how Alameda operate and how his team have found lucrative opportunity amongst a chaotic environment\u2026\nLearn more about your ad choices. Visit megaphone.fm/adchoices