Two Former Circle Executives Co-Found Proprietary Crypto Trading Firm
Adrian Zmudzinski's original article for cointelegraph.com reduced by 80%
Two former executives at crypto finance firm Circle and former DRW executive jointly founded proprietary crypto trading firm CMS Holdings. The new ventureCoindesk reported on Nov. 12 that the firm is the joint venture of former Circle executives Daniel Matuszewski - former head of the firm's over-the-counter desk Circle Trade - and former technology executive Julien Collard-Seguin alongside a third partner.
The third founder is the former head of trading at Cumberland Bobby Cho.According to the outlet, the three decided to pool over $10 million. Crypto is "a lot safer now"CMS Holdings plans to invest 30% of its capital into the most liquid cryptocurrencies, like Bitcoin and Ether, and 40% to 50% into less-traded digital assets, with remaining funds going into long-term equity in the cryptocurrency industry. Matuszewski, who left Circle in August, admitted that he would not have started such a firm just a few years ago because of risk concerns.
His statements resonate with increasing participation of regulated actors in the cryptocurrency space. In one recent example, Switzerland-based cryptocurrency bank SEBA launched its services for professional investors and enterprise clients.
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CN [too long; didn’t read]
Summarised crypto news.