otc

B2C2 founder Max Boonen on the importance of competition amongst OTC liquidity providers, regulatory risk, and institutional investors

Episode 29 of The Scoop was recorded on Skype with Frank Chaparro, Celia Wan, and Max Boonen, Founder & Director at B2C2, one of the world’s largest OTC liquidity providers. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to [email protected]  Max Boonen […]
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Nov 19, 2019, 9:15PM UTC

Inside Jump Trading: The little-known crypto kingmaker working with the world's most prominent cryptocurrency firms, and trading millions

One of the most active firms in the crypto trading world — working with exchanges, OTC desks, and crypto projects — is a Chicago HFT you’ve probably never heard of: Jump Trading. The firm is among the numerous active Wall Street firms in the fledgling digital currency world, alongside the likes of DRW and Susquehanna […]
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Nov 5, 2019, 10:53PM UTC

Decentralized P2P crypto trading platform SIBEX raises $1.8M, aiming to drive institutional participation

SIBEX AG, a decentralized peer-to-peer (P2P) cryptocurrency trading platform, has raised 1.78 million Swiss francs (~$1.8 million) in a seed funding round. Notable investors, including Chinese venture firm Fenbushi Capital, Swiss stock exchange group SIX and blockchain-focused investment firm Accomplice VC participated in the round, among others, according to an announcement Thursday. Switzerland-based SIBEX said […]
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Oct 24, 2019, 6:15PM UTC

Grayscale gets FINRA approval for Digital Large Cap Fund

A cryptocurrency exchange-traded fund (ETF) has yet to garner regulatory approval, but Grayscale Investments has gotten a green light from FINRA for a publicly-quoted security that derives its value from a basket of digital currencies.  The shares of the Grayscale Digital Large Cap Fund (DLC) will trade under symbol GDLCF on OTC markets, which Grayscale […]
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Oct 14, 2019, 6:04PM UTC

In first, crypto market maker B2C2 launches a gold derivative, settled in bitcoin

B2C2, a cryptocurrency liquidity provider and an over-the-counter (OTC) trading firm based in London, has launched a new gold derivative product, which is priced and settled in bitcoin (BTC). Claiming to launch the cryptocurrency market’s “first” such product, B2C2 said the gold-bitcoin derivative will allow institutional clients to trade gold synthetically via its OTC trading […]
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Oct 10, 2019, 7:00AM UTC

'The client profile is changing:' Fidelity Digital Assets exec says new players are entering the crypto fold

The cryptocurrency market is growing up and that means new players are entering the fold, according to an executive at Fidelity Digital Assets.  Christine Sandler, head of sales and marketing at the Fidelity-backed venture, opined on the changes she’s witnessing in the digital asset market at the Security Traders Association’s annual market structure conference in […]
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Oct 7, 2019, 8:00PM UTC

A startup aiming to be crypto's "clearinghouse" has come up with a way to decrease risk in OTC

A cryptocurrency settlement solution provider now enables over-the-counter (OTC)desks to avoid the responsibility of cryptocurrency custody while also minimizing counterparty risk. KeyTango, an Israel-based startup that offers non-custodial clearing services, recently piloted options trading with OTC firm GSR Markets, in which the OTC desk did not receive the seller’s collateral in advance. Instead, the seller […]
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Oct 7, 2019, 3:58PM UTC

Crypto derivatives traders are abandoning Telegram for a newly launched chatting app to do large trades

Some of the biggest players in cryptocurrency derivatives are swapping Telegram for a newly launched trading platform. Paradigm, an over-the-counter (OTC) messaging platform for cryptocurrency traders, launched on Thursday via a partnership with cryptocurrency derivatives exchange Deribit. The platform allows traders to place large buy or sell bitcoin orders (BTC) and ether (ETH) options and futures […]
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Aug 22, 2019, 12:00PM UTC

Kraken OTC 20x'd its volume since 2018

Nelson Minier, head of OTC at crypto exchange Kraken, said the desk has 20x’d the number of trades it does per month since last year on this week’s episode of The Scoop. Minier said the company doesn’t disclose exact volumes, but they’re on the rise. The exchange did nearly $85 billion in volume in 2018, […]
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Aug 20, 2019, 8:38PM UTC

Liquidity provider for CME and Huobi raises $7M from Polychain Capital

A market maker for CME and Huobi just closed a $7 million seed round led by Polychain Capital, aiming to address the growing demand for cryptocurrency liquidity from institutional traders.  Altonomy, a Singapore-based market maker, is said to connect with more than 60 cryptocurrency exchanges and OTC desks around the globe and trade over 250 […]
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Jul 15, 2019, 5:14PM UTC

Ex-Bitmain CEO launches new startup Matrixport

Bitmain co-founder Wu Jihan’s new project is now live, Bloomberg writes. The new cryptocurrency financial services startup called Matrixport spun off Bitmain in February and has brought on a number of former Bitmain employees. News of the project was first broken by The Block last month. [related id=”1″]  The company’s Chief Executive Officer Ge Yuesheng […]
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Jul 8, 2019, 6:00PM UTC

Genesis Global Trading hires 4 new executives, expands into Europe

Genesis Global Trading, an institutional over-the-counter (OTC) cryptocurrency trading and lending firm, has strengthened its leadership team with four new hires and is expanding into Europe. The new appointments are across legal, technology and business development functions, Genesis announced Monday. Arianna Pretto-Sakmann has joined the firm as general counsel, Pat DeFrancesco as chief technology officer […]
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Jul 1, 2019, 1:00PM UTC

Cumberland bids farewell to its Global Head and final OG

Jason Leung, the man who has helmed DRW’s crypto trading operation, has opted to leave the firm, The Block has learned. It is the firm’s second executive departure this month following Bobby Cho, Cumberland’s former COO. Former Goldman Sachs exec James Radecki also left the firm after a one-year stint in March, as first reported […]
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Jun 6, 2019, 3:41PM UTC

Bitfinex launches peer-to-peer OTC trading on Ethereum-based partner platform

Crypto exchange Bitfinex has had a busy month, fighting legal battles and media scrutiny about the stability of its stablecoin, Tether. But it’s not looking to slow down, announcing via Twitter Monday that it is launching “trustless” over-the-counter (OTC) trading on its spin-off platform, Ethfinex. Almost every major crypto exchange has launched an OTC offering […]
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Jun 3, 2019, 11:33AM UTC

Mike Novogratz's Galaxy Digital snags former Coinbase OTC head

Tim Plakas, once the leader of over-the-counter (OTC) trading at Coinbase, has left the exchange to bolster Galaxy Digital’s OTC efforts, according to a source close to the situation. It is not yet clear what Plakas’ position will be within Galaxy’s OTC unit. Plakas’ exit leaves Ben Floyd manning Coinbase’s OTC desk. Plakas, who joined […]
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May 28, 2019, 6:35PM UTC

Polkadot, Dfinity among pre-launch protocol tokens selling at a steep discount on OTC desks, but buyers are hesitant

Tokens for next-generation protocols, including Polkadot, are circulating on a semi-liquid secondary market at a deep discount, The Block has confirmed. Major crypto funds and investors say they have been approached by over-the-counter (OTC) desks offering large volumes of tokens bought in private sales from the protocols’ managing foundations. The tokens are distributed (and redistributed) […]
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May 23, 2019, 6:52PM UTC

Sources: Circle slashes reported $250 million fundraising goal by $100 million

Crypto startup Circle’s revised fundraising goal is 40% lower than the $250 million it was reportedly set to raise in March, according to sources familiar with the matter.  The confirmation of the new lower goal follows news of lay-offs at the company. Circle CEO Jeremy Allaire announced today on Twitter that the company has laid […]
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May 21, 2019, 11:18PM UTC