OTC

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.

Jan 17, 2023

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.

Dec 19, 2022

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.

Nov 18, 2022

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.

Sep 20, 2022