- OTC desks are running into headwinds as hedge funds shut
- CMT Digital has laid off people in its trading unit, whereas Kenetic Capital has shut its OTC desk
Crypto winter has finally found its way to a corner of the digital asset market known for its high margins: over-the-counter trading.
In recent weeks, two over-the-counter trading operations have run into significant headwinds — with one firm shutting its desk altogether.
CMT Digital, a Chicago-based firm, has laid off more than 10 individuals from their team, according to several people.