Been There, Built That:
Solving Difficult Problems In Digital Assets
In 2017, we were project founders, not market makers.
We raised ETH, launched a token, got it listed, and experienced
firsthand what it meant to be on the other side of the table.
Lots of market makers came calling, but none of their proposals
made financial sense to us. We were fortunate enough to have the
finance and tech background to build a market making algo for
our token, so that's what we did.
But then the bear market hit. ETH crashed from $2,000 to $80.
The only source of cash flow? Market making our own token.
Years of Outperformance
So we turned to market making Bitcoin and Ethereum and
discovered we had real edge. The returns were consistent. We
then formalized operations, launched a regulated Cayman hedge
fund, and scaled rapidly.
Over the next three years, we became a top 20 global market
maker, managing over $100M. We navigated extreme volatility,
from BitMEX liquidation spirals to the Terra/Luna collapse, and
consistently delivered outperformance in our returns without a
single week of drawdown.
Crisis, Integrity, and Reboot
When FTX collapsed, we acted immediately to safeguard our stakeholders.
Repaid all loans to Genesis, Celsius, BlockFi, Maple.
Returned all investor capital before bank accounts were shut down
(RIP Silvergate and Signature).
No delays. No excuses.
Despite the circumstances, early investors remained profitable.
We wound down the fund gracefully and stepped back. After
years of 24/7/365, it was time for us to rest and reset.
Reinventing with Purpose
From there, we rebuilt from the ground up. New proprietary firm.
New infrastructure. Faster algorithms.
But the project market making space hadn't changed. Crypto
projects were still frustrated with their market makers -
unclear incentives, opaque execution, undelivered promises.
As a Cayman regulated hedge fund, we weren't able to help
projects with liquidity due to compliance restrictions. But as a
proprietary firm, freedom and flexibility beckoned.
A New Standard in Liquidity
So we launched a new business line to help projects with market
making.
We leverage our high frequency trading infrastructure and
sophisticated algorithms to help make orderly markets in a
chaotic industry, provide transparency in an opaque space, and
actually deliver value in a normalized culture of extraction.
An ever-increasing pool of satisfied clients trusts us enough to
graciously send referrals.
Time is a flat circle. We're now back to our roots, serving and
supporting crypto projects with liquidity.
