Brevan Howard CEO: The crypto industry has turned a new page after the FTX crash, but still requires round-the-clock risk management

Since the FTX crash in 2023 destroyed billions of dollars of investor wealth, the crypto ecosystem has made significant progress. However, TradFi experts said at a Consensus event in Hong Kong on Wednesday that the entire industry needs to make more efforts to become invincible.

Gautam Sharma, CEO and CIO of Brevan Howard, said: "Now there are traditional participants entering the crypto field, especially for us, most of our transactions are settled through exchanges. You actually put assets with custodians while you can trade on exchanges. Therefore, looking at the 18 months since then (FTX crash), this technology has made great strides but there is still much work to be done." Sharma emphasized the need for round-the-clock risk management including market risk, counterparty risk and credit risk.

Mike Kuehnel, CEO of market maker Flow Traders stressed that innovation needs to be transparentized to win investor confidence and ensure "data availability and liquidity flow without causing fragmentation," adding that "getting best prices and allowing users to trade anytime is key." (CoinDesk)