Former Cumberland and Circle Traders Team Up for a New Crypto Prop Trading

Former Cumberland and Circle Traders Team Up for a New Crypto Prop Trading

It was reminiscing of the good old days in cryptocurrency trading with Dan Matuszewski. A few years ago, when trading was introduced to the global market and the early traders got in the game. Matuszewski says that the threat of market correction doesn’t worry him at all. But it was the massive risk of the possibility that the entire business would vanish into thin air soon.

In a phone interview, Matuszewski, 31 said that the chance of bitcoin dying and never coming back is always non-zero.

Circle, a financial company targeting crypto-currency, had been under the supervision of Matuszewski.

Last August 2019, it can be remembered that Matuszewski has officially moved from the Circle Trade as the head and was replaced by a UBS alum, Nick Gustafson.

Matuszewski said that he had nothing but the best experience with the Circle Trade and that it was established accidentally. This company originally provides liquidity for its retail bitcoin payments app, and as their existence in the market grew bigger, they started providing other internal needs.

He says that he’s expectant that the partners he’s been collaborating with would be able to gather up to $10 million and would be enough to establish a proprietary-trading firm. His two partners include the former supervisor of the trading brokerage firm DRW’S Cumberland crypto unit and a previous chief technology officer at Circle, Julien Collard-Seguin.

Cho revealed that the newly-established company, CMS Holdings, had entered the world of cryptocurrency trading last October. They have registered their business in the Cayman Islands, and they don’t handle money from investors outside the mainland.

He continued by saying that they are deploying their strategies similar to the hedge fund in the market even though they’re not organized as such.

CMS Holdings will place 30 percent of the money to Ethereum and Bitcoin, two of the most highly-liquid cryptocurrencies. Some 40 percent to 50 percent of the funds will go to the digital assets and other tokens that are not frequently traded in the market. And the remains of the money will go to equity investments in the crypto world that handles long-term transactions.

Cho also stated that their evolvement is rather quick, and there’s no one stopping the firm.

This year, the price of Bitcoin had been twice, hitting $8,700 each, albeit it’s still in the record of around $20,000 reached last 2017.

Matuszewski also expressed his hopes that the cryptocurrency trading is a lot safer now than it is before. He also said that it’s not going to disappear any time sooner.

Give a Comment