Sam Bankman-Fried: prediction

Transcript context

…Rather than going through blow by blow over the last couple of years from your launch, can you just fast forward us to today? What are some of the high level public stats that you can share on FTX as a business right now? Where are we today? I mean we've grown. Obviously, we were nothing a few years ago. A year ago, maybe we're down 12 or so, the biggest, globally. Today, we are the third biggest by volume, we're the second biggest by open interest, and actually pretty close to first, I just realized. We have $15 billion of volume globally in the last day. That's typically where we are. Obviously, there's some volatility in that from day to day. I guess we have a few million users. We have FTX US as well. We opened up a US branch about a year and a half ago. Today, I guess that's done a few hundred million dollars of volume. The biggest thing that we're anticipating is the launch of derivatives hopefully sometime in the next year that we think could really bring a lot that's been missing to the market. Because again, the US players just have not had a sophisticated derivative suite. We acquired LedgerX, now FTX US Derivatives. We're excited to work with CFTC on products through that. I think those are probably the biggest headline stats about where we are today. How about in terms of your strategy and how you think about things? Obviously, it makes so much sense in the early days. This is a market where there are strong power users, there's a power law curve to the customers in the market. You can objectively measure product quality. Of course, you're going to go after those power users. Maybe you learn to tweet along the way. Now you're doing all those things Ben mentioned a minute ago of buying a sports arena, naming rights, et cetera. That feels very different. Now that you've won that initial beachhead market, is it now more about expanding the whole market, or why this huge change?…

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