Category: OTC

Much institutionalization? Dogecoin’s surge has been fueled by more than just retail traders

Quick Take Dogecoin has surged over the last few months as retail traders flock to the popular meme coin. In some corners of the market, there are signs of institutionalization.  This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

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State Street is helping build a crypto trading platform for institutions

U.S. banking giant State Street is helping build a cryptocurrency trading platform for institutions. State Street’s Currenex unit has partnered with Arcane Crypto-backed Pure Digital for the initiative. (Currenex provides technology to institutional foreign exchange (FX) platforms). London-based Pure Digital is building an over-the-counter (OTC) crypto trading platform for institutional investors, and Currenex is providing […]

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Crypto Asset Manager Bitwise Files to Publicly Trade Bitcoin Fund

Crypto Asset Manager Bitwise Files to Publicly Trade Bitcoin Fund

On February 2, the crypto asset manager, Bitwise Asset Management, announced it had filed a Form 211 with the U.S. Financial Industry Regulatory Authority (FINRA). If the proposal is approved Bitwise will be able to deploy its shares publicly via over-the-counter (OTC) desks and secondary markets. Bitwise Plans to Compete With Grayscale’s Bitcoin Trust The […]

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BlockFi launches OTC trading desk for institutional crypto investors

BlockFi launches OTC trading desk for institutional crypto investors

Crypto financial services firm BlockFi has launched an over-the-counter (OTC) trading desk for institutional investors. The service will allow BlockFi’s clients to process large trades directly between themselves, instead of relying on exchange order books. BlockFi said its OTC desk will operate with traders based in the U.S. and Asia to serve institutional and ultra-high […]

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Crypto market maker Wintermute raises $20 million from Pantera Capital, Fidelity’s Avon

Crypto market maker Wintermute raises $20 million from Pantera Capital, Fidelity’s Avon

Cryptocurrency market maker Wintermute has raised $20 million in a Series B funding round to expand into new businesses and geographies. The round was backed by Pantera Capital, Fidelity’s Avon Ventures, and Sino Global Capital, among others. Existing investors Blockchain.com Ventures and Lightspeed Venture Partners also participated in the round.  In a note to The […]

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$2.9 billion: Bitcoin liquidations kick up broader market headwinds

$2.9 billion: Bitcoin liquidations kick up broader market headwinds

Bitcoin’s historic rise came to a halt over the weekend — but the industry’s largest trading desks aren’t too concerned.  After soaring to all-time highs near $42,000, the price of bitcoin briefly dropped below $31,000 on Monday in a move that market-making executives say was driven by a flurry of liquidations. Coinbase saw a low […]

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Crypto traders lament extra-intense Christmas holiday session

Crypto traders lament extra-intense Christmas holiday session

Quick Take Christmas was busy for crypto trading desks. B2C2 was “extremely busy,” while Wintermute clocked in $1 billion in trading volumes. Traders expect December’s activity to continue into January. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

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Brazil Revenue Collector’s Data Shows Cryptocurrency Volumes Exceed $6 Billion Between January and September

Brazil Revenue Collector’s Data Shows Cryptocurrency Volumes Exceed $6 Billion Between January and September

Raw data from the Federal Revenue of Brazil (RFB) shows that crypto traded volumes in the country exceeded $6 billion between January and September this year. According to the data, bitcoin dominates as it accounts for over 80% of traded volumes. Still, other cryptos like bitcoin cash, dai, and dogecoin had significant volumes in the […]

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