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LedgerPrime Raises $12 Million for Crypto Quant Trading
LedgerPrime, a crypto trading firm led by ex-Wall Street whizzes, has closed on $12 million of capital and secured commitments for another $8 million.
LedgerPrime, a digital asset investment firm led by former Wall Street whizzes, has closed on $12 million of institutional capital and secured commitments for another $8 million.
The proprietary trading firm, which began trading in the spot and derivatives markets for cryptocurrency in the fourth quarter of 2017, is owned by Ledger Holdings Inc., which is also the parent company of crypto futures platform LedgerX.
STORY CONTINUES BELOW
"The raise is reflective of LedgerPrime's track record and success through the 2018 crypto crash, and shows the opportunity associated with trading cryptocurrency derivatives and the demand for strategies that can generate returns in both bear and bull markets," LedgerPrime chief investment officer Shiliang Tang told CoinDesk Thursday.
Based in New York, LedgerPrime specializes in quantitative trading strategies and is led by Tang, a former proprietary derivatives trader at global bank UBS, and CTO Johannes van Zeijts, a physics Ph.D. and former portfolio manager at Quantbot Technologies.
Other team members are former academics who have used machine learning and algorithmic strategies at financial institutions such as SAC Capital Advisors and Bank of America, LedgerPrime said.
Reflecting the unusual intersection of worlds LedgerPrime inhabits, bitcoin core developer Bryan Bishop and former JPMorgan dealmaker James Greenberg are advisors to the firm, according to its website.
Image via Shutterstock.
Marc Hochstein
As Deputy Editor-in-Chief for Features, Opinion, Ethics and Standards, Marc oversaw CoinDesk's long-form content, set editorial policies and acted as the ombudsman for our industry-leading newsroom. He also spearheaded our nascent coverage of prediction markets and helped compile The Node, our daily email newsletter rounding up the biggest stories in crypto.
From November 2022 to June 2024 Marc was the Executive Editor of Consensus, CoinDesk's flagship annual event. He joined CoinDesk in 2017 as a managing editor and has steadily added responsibilities over the years.
Marc is a veteran journalist with more than 25 years' experience, including 17 years at the trade publication American Banker, the last three as editor-in-chief, where he was responsible for some of the earliest mainstream news coverage of cryptocurrency and blockchain technology.
DISCLOSURE: Marc holds BTC above CoinDesk's disclosure threshold of $1,000; marginal amounts of ETH, SOL, XMR, ZEC, MATIC and EGIRL; an Urbit planet (~fodrex-malmev); two ENS domain names (MarcHochstein.eth and MarcusHNYC.eth); and NFTs from the Oekaki (pictured), Lil Skribblers, SSRWives, and Gwar collections.
