Audio File & Written Transcript of Bitfinex’s Phillip Potter Trading Confession

The following is a written transcript and the link to the accompanying audio file of the interview held with Bitfinex Director.

Photo: Bitfinex

Photo: Bitfinex

Update: For the full story at Coinspeaker go here.

Bitfinex CSO Phil Potter came under a cloud this past Thursday, after he admitted on a live talk internet show that he traded Bitcoin using the company’s infrastructure, and then appeared to backtrack moments later when pressed on the issue.

The interview was posted on Vocaroo, an online voice recording service. Here’s the written transcript:

Interviewer: So Phil since you are running Bitfinex and you’re a trader, isn’t that a conflict of interest that you have access to these [customer] accounts and you’re able to trade as well?

PP: I-I’m a long term holder and if anything there’s a very minor amount of trading that I do, like, I – you know, out of the market, either bids and offers, small amounts.

Interviewer: Can we ask you though if there’s a conflict of interest given you have access to the customer accounts?

PP: There is of course a conflict of interest if I traded actively and I don’t.

Interviewer: So you’re not a trader, you’re an investor?

PP: I’ve been a trader all my life. OK, so, I have a great deal of interest in Bitcoin, I want to see it succeed. I’m permabull.

Interviewer: No, no, no, no, no. That wasn’t the question I asked: are you trading Bitcoin or are you just an investor in Bitcoin?

PP: I am an investor in Bitcoin that will add to his position a little bit on the way down and sell a little bit on the way up –

Interviewer: Right, so you actively trade Bitcoin?

PP: No, absolutely not, that would be totally inappropriate.

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