Tag: Cryptocurrency

Cryptocurrency

Key Takeaways from Day One of the Libra Hearings

The US Senate Committee on Banking, Housing and Urban Affairs today held a hearing examining Facebook’s proposed cryptocurrency, libra, and I almost filled up a whole notebook taking notes, which I’ll try and distill into something coherent now. It was fairly compelling, although frequently frustrating and sometimes amusing, stuff. Firstly, it’s worth noting that the […]

XTRD, CEX.IO Partner for Crypto Trading Services

Crypto technology company XTRD has announced an “integration partnership” with cryptocurrency exchange CEX.IO to create an institutional services division within the latter business. XTRD CEO, Alexander Kravets, and CTO, Serge Gulko, will assume CEO and CTO roles of CEX.IO’s US offices and lead the institutional division. “The collaboration of XTRD with CEX.IO provides us with […]

Seed CX Subsidiaries Granted Virtual Currency Licenses

Two of Seed CX’s subsidiaries, Seed Digital Commodities Market (SDCM) and Zero Hash, have received approval from the New York Department of Financial Services (NYDFS) for a virtual currency license. Seed CX, through its subsidiaries, offers an exchange for institutional trading and settlement of fiat and digital asset products. The firm also plans to offer […]

Genesis Announces Senior Hires

Genesis, a digital currency trading and lending firm, has announced three senior hires. Specifically, the firm has named Arianna Pretto-Sakmann as general counsel, Pat DeFrancesco as CTO and Leon Marshall as head of European business development. Profit & Loss previously reported that the firm has also hired Dan Torrey as head of institutional sales. “It […]

Cryptoasset Manager Granted FCA License

Prime Factor Capital (PFC), a London-based cryptoasset management firm, has been granted a license by the UK’s Financial Conduct Authority (FCA) to operate as a full-scope Alternative Investment Fund Manager (AIFM). Under the EU’s AIFM Directive (AIFMD), full-scope AIFMs may manage in excess of €100 million in assets, allowing PFC to begin accepting institutional-size tickets. […]

Cryptocurrencies: Finding the Right Audience

Since the price of crypto assets spiked dramatically in 2017, many have been predicting that a wave of institutional money is going to come into the cryptocurrency market, bringing with it a flood of change.  However, speakers at Profit & Loss’ Forex Network London event argued that the “institutionalisation” of the crypto markets will play […]

LedgerX Gets Nod for Physically Settled Bitcoin Derivatives

The US Commodity Futures Trading Commission (CFTC) has approved LedgerX, a cryptocurrency trading venue, as a Designated Contract Market (DCM). This will allow LedgerX to offer bitcoin spot and physically settled derivatives contracts to retail clients, which it plans to do through its new platform, LedgerX Omni. Founded in 2014, LedgerX obtained approval to act […]

In the FICC of It

In this week’s lively and extended podcast Colin Lambert and Galen Stops mange to disagree on just about everything as they dig into the details around the announcement that Citi has given notice to four of the biggest non-bank market makers in FX and discuss the potential implications for the industry as a whole. They […]

Bringing the Pure Concept to Digital Assets

For all the talk of institutionalising crypto markets, progress is slow – Colin Lambert talks to Campbell Adams, founder and CEO of Pure Digital about how he plans to accelerate the transformation Although the end result in terms of hard numbers doesn’t really tell the story, the creation of the FX Pure trading platform, which […]

2019 Profit & Loss Readers’ Choice Awards

More than 3,000 votes were cast in this year’s Profit & Loss Readers’ Choice Awards, which created strong competition throughout the categories. For the first time categories for cryptocurrency markets were introduced and proved to be very popular, alongside the more traditional categories. Here then, are this year’s winners: Best Market Maker (Major Currencies) JP […]