OTC
Galaxy Executed Its First OTC Options Trade as Demand for On-Chain Options Ramps Up
In 2022, “DeFi performed exceedingly well while CeFi and some traditional methodologies for transacting had some challenges,” Jason Urban, Galaxy’s global head of trading, told CoinDesk TV.
Asia-Based Digital Asset Firm HashKey Group Introduces Wealth Management Service
HashKey has also expanded its OTC service by expanding its liquidity coverage and range of tokens in the spot market.
Russians Use Tether to Send Money to the West, Evading Sanctions and KYC – Transparency International
Russian banks may be cut off from the SWIFT international payments network but, despite wide-ranging international sanctions, money keeps flowing between Russia and the West. Brokers are ready to turn Russian rubles into foreign currency abroad, in cash.
Institutional Investors Appear To Be Driving Bitcoin's Rally
An increase of bitcoin held on over-the-counter desks indicates large investors are purchasing the cryptocurrency. New Glassnode data shows the tally has increased by 70% to 5,293 BTC since January 11. Private wealth managers, high-net-worth individuals or hedge funds wishing to convert large amounts of cash into crypto assets seamlessly typically use OTC desks. "All About Bitcoin" host Lawrence Lewitinn breaks down the Chart of the Day.
Crypto Options Market Since FTX's Implosion
Market makers' share of crypto options trading volume settled through OTC platform Paradigm has increased as hedge funds, family offices and high-net worth individuals sit on the fence. And it appears the situation could persist for some time. "All About Bitcoin" host Christine Lee presents the Chart of the Day.
FTX Collapse: Ontario Teachers' to Write Off FTX Stake; Genesis Block Reportedly Ceases Trading Services
Ontario Teachers' Pension Plan, one of Canada's largest pension funds with nearly $250 billion in assets under management (AUM), will write down the entirety of its $95 million investment in FTX after the troubled crypto exchange filed for bankruptcy protection. And Genesis Block will cease over-the-counter (OTC) trading services in wake of contagion risks from the now-bankrupt FTX exchange, according to a Reuters report. Genesis Block Trading is unrelated to Genesis Global Capital, which is owned by Digital Currency Group (DCG). DCG is also the parent company of CoinDesk.
Cryptocurrency Market Maker Wintermute Lost $160M in Hack
Cryptocurrency market maker Wintermute lost $160 million in a hack relating to its decentralized finance (DeFi) operation, but the company’s lending and OTC operations have not been affected. “The Hash” panel breaks down the details.
Crypto Trading Firm Wintermute Launches Zero-Fee OTC Platform
Wintermute Node will compete against other institutional trading platforms in a bid to expand the firm’s client base.
Crypto Exchange Blockchain.com Acquires Altonomy’s OTC Desk
Blockchain.com confirmed the deal to CoinDesk. It significantly expands the exchange’s crypto OTC network, especially in the altcoin space.
Bitcoin Price Rally Fueled by Whales’ $1.6B Buy, Blockchain Data Shows
But why the whales made their buys on an exchange instead of an over-the-counter desk remains unclear.
