Markets
Crypto market maker GSR Markets restructures its management
Liquidity provider for digital assets GSR Markets has announced a management restructuring in anticipation of a crypto rally.
RSG Marketsone of crypto’s oldest market makers, has announced a number of leadership changes as part of its efforts to “better serve customers in different time zones as crypto booms again “.
According to Bloomberg report, the London-based company has named Jakob Palmstierna as president, a position that will now be shared by Rich Rosenblum and Xin Song. Commenting on the transition, Rosenblum said the company wanted to have “24-hour coverage” of its customers around the world.
“We also want to be able to create projects in the future that our customers can use in two years. At this stage, the task is heavy. So physically being in the US time zone makes it easier for me to talk to some of these stakeholders.
Rich Rosenblum
The restructuring decision was also influenced by the recent approval of exchange-traded funds (ETFs), which has increased interest in Bitcoin (BTC). GSR Markets is now planning the approval of similar funds holding Ethereum (ETH). Rosenblum noted that the company, founded in 2013, tripled its revenue in the first half compared to the same period last year and never raised outside capital.
Early 2024, GSR Markets appointed Former JPMorgan executive Andreas Koukorinis as new head of trading to cater to more conservative clients interested in trading major cryptocurrencies.