Former Heads At Circle, Cumberland Launch CMS Holdings, A Crypto Proprietary Trading Firm

Dan Matuszewski, 31, who used to oversee the trading at the Circle cryptocurrency company, said in an interview given recently that he worried a lot during the time when cryptocurrency trading had just launched because there was the risk for the entire business to just disappear.

“There was always a non-zero chance that bitcoin would gap down, die, and never come back,” he said.

However, he now has enough confidence that the market has a great future, so he teamed up with Bobby Cho and Julien Collars-Seguin to pool over $10 million for their own cryptocurrency prop firm. Bobby Cho was the head of crypto trading for DRW, while Seguin used to work as a technology executive for Circle.

The New Company Has Started Its Activity in October

CMS Holdings, the company owned by Matuszewski and his partners has already started to trade, in October, this year. Cho said that it’s Cayman Islands registered and doesn’t trade money coming from outside investors. He also pointed out how the firm deploys funds just like a hedge fund, only it’s not structured like that.

The plan is to use 30% of the company’s money as cryptocurrencies, after which Bitcoin and Ethereum were mentioned. Cho also said that 40 to 50% of the money will be put in tokens that aren’t so frequently traded and digital assets, while the rest will remain to be put in crypto equity investments for the long-term. He was confident in the way things are evolving, seeing that this year the price for Bitcoin has doubled and reached $8,700. The 2017 record of $20,000 still hasn’t been reached, but this doesn’t mean the market is no longer looking promising. Matuszewski mentioned that cryptocurrency is safer now, so it’s unlikely for it to disappear.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide