A Bloomberg article addresses how marketmakers are doing to continue generating profits despite low market volumes, which despite a major uptick in October, are still at 50% of what the industry was performing a year ago before the FTX collapse
🟠 Wintermute has begun block-building on Ethereum, expanding its methods of earning from arbitrage. It is considering increasing staff by 10 percent and plans to create a crypto dex and derivatives exchange, of which it has given no deadline. With $3 billion in daily volumes it is probably in the top3 most important marketmakers in the industry
🟢 Cumberland remains very focused on its OTC derivatives business where it offers options on BTC, ETH and Solana
🟠 GSR Markets says it is increasing its focus on BTC and ETH, and remains one of the most active backers during the bear market, despite laying off a portion of staff this year
🟢 Jump Crypto is always shy from talking to reporters so we don't know how it is doing; It withdrew from trading in the U.S., had been investigated for dealings with Terra, and had lost about $200m on FTX
🟠 Auros Global came close to bankruptcy in late 2022 but was bailed out with a $17m cash injection, which allowed it to stay alive. it trades just $1.3m in daily trades
🟢Portofino Technologies has focused on trading large-cap cryptos and expects crypto volumes to resume a positive trend shortly with upcoming catalysts, bringing both institutional and retail audiences back into crypto
