.jpg){kind=avatar}
.jpg){kind=avatar}
High volatility in the $170bn cryptocurrency market is attracting large proprietary trading firms such as DRW into the market. DRW made a $7.6m investment in bitcoin that the U.S. gov't seized from the Silk Road, a sum that is now valued at $160m.
DRW of Chicago, one of the world’s largest proprietary trading companies, has led the charge. About a dozen of its more than 800 employees buy and sell bitcoin at a subsidiary named Cumberland Mining, which was established in 2014. “The volatility in asset classes is at all-time historic lows — everywhere except for cryptocurrencies. So there’s obviously a lot of interest in this space,” said Garrett See, chief executive of DV Chain, which DV Trading launched as a cryptocurrency affiliate last year.
https://www.ft.com/content/40a86de6-b5dd-11e7-a398-73d59db9e399
unknownx500
