How to blow up a $32B crypto exchange, with Binance Labs MD of Token Engineering, David Shuttleworth

In this conversation, we chat with David Shuttleworth, the
managing director of token engineering at Binance. Prior to this,
David was a Senior DeFi Economist at ConsenSys, where he focused
on mechanism design, tokenomics, and protocol design. David’s
experience is extensive and includes leading the development of
the Medical Advanced Analytics team at GlaxoSmithKline and was a
data scientist at various stage startups in FinTech and
predictive analytics.  


David also conducted research in behavioral economics and health
outcomes at the University of Pennsylvania and has published his
work in peer-reviewed scientific journals such as JAMA, the
Annals of Internal Medicine, and the Lancet.


 


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TIMESTAMPS:


2’21”: A high level overview of what happened to FTX and the
bizarre coverage of Sam Bankman-Fried


6’56”: How BitMEX fits into the equation


11’34”: Addressing the relevance of the conspiracy theories
surrounding FTX


16’19”: Tokenomics of FTT (FTX’s token) overview - explaining
trading on the margin, how this differs from buying at spot
rates, and liquidation machanics


20’24”: Crypto holding attacks and why this is profitable for the
attacker


22’59”: FTX and Alameda Research’s Balance sheet -
collateralization, strategy, and leverage


27’16”: The collapse of Terra LUNA and Three Arrows Capital, how
this impacted FTX, and who is likely to fall next


35’02”: Remediation strategies: The Binance Billion Dollar
Recovery Fund and Proof of Reserves


39’12”: Channels to use to connect with David


Disclaimer here — this newsletter does not provide investment
advice and represents solely the views and opinions of FINTECH
BLUEPRINT LTD.


Contributors: Lex, Laurence, Matt, Farhad, Mike, Daniella


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questions.