TLDR
Eight former Morgan Stanley developers at Morgan Stanley launched a cryptocurrency derivatives platform called Phemex. The platform will offer 100x leverage to retail and institutional investors in Bitcoin, Ethereum, Ripple contracts. The developers expect that other traditional financial products including stock indexes, foreign exchange, interest rates, etc. will back these contracts. Pheex will be ten times faster than regular cryptocurrency trading platforms. CEO of Berkshire Hathaway Warren Buffett said derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.via the TL;DR App
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Written by zamboglou | HackerNoon Contributor of the Year Fintech 2022
