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Wall Street Pros feasting on Crypto market ignorance of retail sheep By Justina Lee  (Bloomberg) – Wall Street traders like Trey Griggs are finding a new lease on life in the $2.4trn crypto Wild West. After two decades in energy trading, the 51-year-old was lured by a former Goldman Sachs colleague this February into a new world of market-making in digital currencies. Now he’s in fighting spirits – unleashing old-school finance tricks to exploit the industry’s rampant inefficiencies, volatility and downright weirdness. “All the fun that used to be had 30 years ago in the commodity ...

Griggs is among crypto newcomers deploying systematic strategies that are tried-and-tested in conventional asset classes – price arbitrage, futures trading, options writing – in a booming new corner of finance. As more mainstream investors get behind bitcoin, boutique firms are joining the likes of Mike Novogratz in an ever-broadening crypto rally that keeps breaking records. Frank Franklin II/AP Wall Street veterans are becoming crypto converts and are unleashing old-school finance tricks to exploit the industry’s inefficiencies, volatility and downright weirdness. For those who can ...

By Justina Lee Wall Street traders like Trey Griggs are finding a new lease on life in the $2.5 trillion crypto Wild West. After two decades in energy trading, the 51-year-old was lured by a former Goldman Sachs Group Inc. colleague this February into a new world of market-making in digital currencies. Now he’s in fighting spirits -- unleashing old-school finance tricks to exploit the industry’s rampant inefficiencies, volatility and downright weirdness. “All the fun that used to be had 30 years ago in the commodity markets and is no longer fun -- that fun is now in crypto,” says the ...

Advertisement Wall Street traders like Trey Griggs are finding a new lease on life in the $US2.4 trillion ($3.1 trillion) crypto Wild West. After two decades in energy trading, the 51-year-old was lured by a former Goldman Sachs colleague this February into a new world of market-making in digital currencies. Wall Street veterans are using old tricks to capitalise on inefficiencies in cryptocurrencies. Credit:AP Now he’s in fighting spirits - unleashing old-school finance tricks to exploit the industry’s rampant inefficiencies, volatility and downright weirdness. “All the fun that used t...

Wall Street Unleashes Old Tricks in $2.5 Trillion Crypto Jungle For those who can stomach the price swings, the threat of exchange hacks and the byzantine market structure, complex fast-money trades are offering an alternative way to ride the digital mania. Justina Lee | May 10, 2021 (Bloomberg) -- Wall Street traders like Trey Griggs are finding a new lease on life in the $2.5 trillion crypto Wild West. After two decades in energy trading, the 51-year-old was lured by a former Goldman Sachs Group Inc. colleague this February into a new world of market-making in digital currencies. N...