Unchained Podcast Talks How To Make Big Bitcoin Trades Without Effecting The Market’s $BTC Price
Large Market Trades Without Moving The Market
A recent Forbes article titled How to Make Large Crypto Trades Without Moving the Market, features show notes from a podcast episode from Unchained. The episode featured Jae Kwan and Ethan Buchman of Cosmos. The full episode can be listed to here. Here is a summary of the show notes.
Jennifer Campbell, who also appeared on the Unchained Podcast, was at Square Union Ventures, a venture capital firm. Her position entitled helping those interested in making large crypto trades. However, it was difficult to do so in a small and illiquid crypto market, without moving the market. She shared with the Unchained podcast, “If the price of Bitcoin is $1,000 if you want to buy $10 of Bitcoin or $100 for Bitcoin, the price is still $1,000. But if you want to buy $1 million, the price is actually $1,200 or something like that. The price gets higher as your order size goes up, so how you execute that trade really matters.”
She and Greg Tuser, who was the former head of Goldman Sachs electronic trading, developed Tagonmi. The platform’s website explains that it “combines institutional-grade services with superior execution technology for digital assets and cryptocurrencies. Our products will provide operation ease and reduce trading costs so you keep more of your returns.”
Thus far, the company has raised $27.5 million from SV Angel, INBlockchain, Founders Fund, and Digital Currency Group. Campbell shared on the podcast that Tagnomi has seen interest from institutional investors such as “hedge funds, RIAs, and other broker-dealers who want to sell to their clients, but also a lot of high net worth individuals and clients who just want to use Tagnomi because it’s a better experience.”
Tagnomi is also able to custody client’s assets, and for those who want to maintain control of their private keys, it can help them do that too. It is also starting to look into offering services related to developing trends like staking or tapping into decentralized exchange, in the event that they become more liquid.
The podcast also features Campbell and COO Kevin Johnson’s position on whether there will be a “wall of institutional money” in the cryptocurrency space, which has been a prediction by experts. They also discuss the BitLicense and whether it is helpful to startups in the cryptocurrency space.