What really goes on at a crypto OTC desk?
Over-the-counter, or OTC, trading refers to any trading that is not done via an automated exchange. What exactly is OTC trading? Who does it, and why? To learn more about what an OTC desk is and how these under the radar exchanges operate, Magazine spoke to a few insiders to get the scoop.The most popular conception of OTC trading revolves around massive off-market deals, like when companies such as MicroStrategy make multimillion-dollar purchases using OTC desks run by the likes of Coinbase or Kraken.OTC trading is, however, not the exclusive domain of the rich, as it can also refer to....
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On January 11, 2022, the Washington-based bitcoin mining operation Luxor announced the launch of a new application-specific integrated circuit (ASIC) trading desk. According to the company, Luxor’s new trading desk will give miners and investors access to bitcoin ASIC mining rigs “at a fair market price.”
NYDIG-Backed Mining Operation Luxor Reveals ASIC Trading Desk Service
The bitcoin mining firm Luxor aims to purchase and sell bitcoin mining machines via the company’s new ASIC trading desk service. The press release published on Luxor’s web....
Global investment bank Goldman Sachs has brought back its bitcoin trading desk and will start handling bitcoin futures next week. The firm is also reportedly exploring the potential for a bitcoin exchange-traded fund (ETF) and plans to provide a crypto custody service. Goldman Sachs Group Inc. has restarted its cryptocurrency trading desk, Reuters reported Monday, citing a person familiar with the matter. Goldman first set up a cryptocurrency desk in 2018, after a bull run as the price of bitcoin was falling from record highs, muting investor interest in the cryptocurrency. The desk....
On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don’t want to sell their NFTs.
Nexo to Offer Loans for Bored Ape and Cryptopunks NFT Collateral
NFTs have become a big deal in 2021 and a billion-dollar industry almost overnight. Popular collections like the Bored Ape Yacht Club (BAYC), Cryptopunks, and Meebits have sold for hundreds....
ItBit has launched its Global OTC Agency Trading Desk, a new, five-person over-the-counter (OTC) trading service that allows customers to complete trades outside its online order books. The trading desk will facilitate transactions of 100 BTC (roughly $28,000 at press time) or more with no broker or trading fees. As part of a limited promotion, new users will also receive $50 in bitcoin for completing their first trade. ItBit Institutional Client Group director Bobby Cho noted that the new product aims to appeal to large volume buyers who want to avoid exchange slippage, whereby their....
BitGo, a popular crypto custody service firm, has now introduced over-the-counter (OTC) trading for digital assets. This will allow traders to trade in derivatives of more than 250 digital assets. BitGo will also offer yield-generating products and lending services. Matt Ballensweig, BitGo’s CEO, said that this desk is a great opportunity for traders to benefit from a full-service desk that includes spots, derivatives, and lending. BitGo now holds more than $100B in assets. It seems to have timed its desk launch perfectly. Thanks to the arrival of Trump, crypto OTC trading doubled in 2024,....