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The US House of Representatives Committee on Agriculture held a hearing on 12 May titled "Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models." The hearing featured testimony from FIA President and CEO Walt Lukken as well as representatives of FTX, CME Group, Intercontinental Exchange, and CoinFund, an investment firm focused on crypto assets.
Legislators focused their questions on the FTX proposal's broader implications for traditional derivatives products and market participants. Although FTX has said that its initial focus will be on cryptocurrency futures and options, US legislators expressed concern about potential disruptions to price discovery and hedging if this model was extended to agriculture and energy markets.
