Ex-Citadel execs raise $50M for high-frequency crypto trading platform
Portofino’s backers believe that access to high-frequency trading, or HFT, could bring more hedge funds and institutional investors into crypto. Cryptocurrency startup Portofino Technologies has officially launched its high-frequency trading platform for digital assets, securing major funding from venture capital firms in the process. In launching its platform, Portofino disclosed that it had raised $50 million in equity funding from Valar Ventures, Global Founders Capital and Coatue. Although Portofino didn’t disclose how the funding will be used, the company has been active on the hiring....
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Two former executives of the leading investor in the world’s financial markets, Citadel Securities, Leonard Lancia and Alex Casimo have raised $50 million for their own crypto market maker. The company also plans to invest in crypto assets via web 3 projects. Ex-leaders at Citadel Security initially launched their own market maker in April 2021 […]
High-frequency strategies, which typically employs algorithmic systems, can be applied to bitcoin trading. This can involve looking at price gaps, short-term arbitrage opportunities, and other market factors to make profits off volatile price action. According to Assembly software and cryptocurrency engineer Andrew Barisser, bitcoin trading using high-frequency strategies has an incredibly open system that can easily be used by developers. Exchanges usually have open APIs that can allow anyone to trade, without requiring premium access or associated costs. Bitcoin Trading Systems. Barriser....
Citadel CEO Ken Griffin, a bitcoin skeptic, admits he has not been right on his crypto call. He now says: “It’s fair to assume that over the months to come, you will see us engage in making markets in cryptocurrencies.”
Citadel Getting Into Crypto
The CEO and founder of financial services firm Citadel, billionaire Ken Griffin, talked about cryptocurrency and his company’s decision to enter the space in an interview with David Rubenstein on Bloomberg Thursday.
The billionaire executive has long been a bitcoin skeptic. He previously....
High-frequency trading allows cryptocurrency traders to take advantage of market opportunities that are usually unavailable to regular traders. Following the decentralized finance (DeFi) boom of 2020, decentralized exchanges (DEXs) solidified their place in the ecosystems of both cryptocurrency and finance. Since DEXs are not as heavily regulated as centralized exchanges, users can list any token they want. With DEXs, high-frequency traders can make trades on coins before they hit major exchanges. Plus, decentralized exchanges are noncustodial, which implies that creators cannot pull an....
Symbiont is a company that aims to apply blockchain technology in making a quicker and safer system for transferring assets between buyers and sellers. In doing so, it could reduce the clearing and settling time for trading, paving the way for a more efficient and streamlined market. According to its statement on Tuesday, the company was able to raise $1.25 million from a group including former New York Stock Exchange chief Duncan Niederauer, former Citadel executive Matt Andresen, and two co-founders of high-frequency trading firm Getco, Dan Tierney and Stephen Schuler. Blockchain....