During the discussion, the existing industry structure was defended as “quite adaptive” against volatile situations by Sean Downey, executive director for clearing, risk and capital policy at CME Group, the world’s leading derivatives exchange. Downey also criticized any new system that would lean on algorithms over capital cushions, arguing that the former brings its own hazards. “We’ve seen that movie before, and in fact, we saw it very recently,” he said, referring to the recent meltdown of TerraUSD (UST).
Bitcoin Has Best Day in 2 Months as Markets Anticipate a ‘Summer of Easing'
The net percent of global central banks cutting rates is increasing in a positive sign for risk assets, including cryptocurrencies....