Token 2049, Asia's largest Web3 event, was held in Singapore last week, bringing together decision-makers from traditional financial companies, large technology companies and global regulators, as well as entrepreneurs and builders focusing on cryptocurrency businesses. The new leader of Kronos Research, a cryptocurrency quantification agency, also attended the event, met with partners, and expressed a positive and optimistic attitude towards the growth of virtual asset-related projects in Asia.
Kronos’ new CEO Hank Huang said in the conversation that the company will consolidate its position as a market maker for centralized and decentralized exchanges and ensure that the cryptocurrency market has sufficient liquidity under the current bearish market conditions.
Huang said:
We are actively expanding into regions such as Asia, working with newly established decentralized exchanges to provide liquidity for popular assets. At the same time, we plan to invest more funds and resources into market creation. We take the opportunity to participate in Token 2049 to effectively communicate with existing and potential partners and participating exchanges.
He also noted that the company tripled its market share last quarter.
According to Huang, Kronos will open a new office in Singapore and has completed registration of a new fund in the Cayman Islands.
As the United States strengthens its regulation of cryptocurrencies, Asian markets with a relatively open regulatory environment are more attractive. To ensure compliance, we also completed fund registration in the Cayman Islands.
Kronos’ new chief operating officer, Vincent Liu, announced that in terms of venture capital, they hope to invest in more projects. In the current bear market environment, there has been an increase in higher-quality, lower-valued cryptocurrency projects, and there is a great opportunity not to be missed.
Liu pointed out:
For those projects that just want to make quick profits, the bear market is a natural touchstone. We want to invest in projects that have the patience to build on their underlying strengths during tough times and that focus on long-term returns rather than short-term profits.
A new vision for management
Huang and Liu were promoted to Kronos' chief executive officer and chief operating officer respectively, leading Kronos' aggressive expansion into high-growth regions.
Huang said:
This industry is developing rapidly, and leaders must strengthen their ability to adapt and seize new opportunities. This requires continuous learning and honing of core skills. Although there are uncertainties about the future of the market, our focus is clear, which is to make good use of our research capabilities to provide more robust and deeper liquidity for projects and exchanges.
Liu added:
Although it is a bear market now, we cannot stop moving forward. We diversify our strategies, deepen our understanding of cryptocurrencies, and actively build partnerships. We work with all our teams to face challenges and grow as a team, and remain steadfast in our commitment to grow Kronos.
Huang began his career at Allston Trading, which specialized in high-frequency trading. He co-founded 84 LLC and Coinful Capital, developing trading systems and strategies. He joined Kronos in 2019 as Chief Technology Officer and is at the top of the market maker rankings. He also holds degrees in information engineering and finance from MIT.
Prior to becoming Chief Operating Officer, Liu was responsible for asset management and overseeing risk and trading at Kronos. He began his trading career at options market maker Belvedere Trading where he served as Partner and Director of Electronic Trading for over 8 years. Liu holds bachelor's and master's degrees in electrical and information engineering from Carnegie Mellon University.
As a world-leading market maker, Kronos has an international team of 100 professionals with billions of daily cryptocurrency trading volumes on top exchanges around the world.
Since 2021, Kronos has transitioned from primarily focusing on centralized exchanges to expanding into the decentralized exchange (DEX) space, becoming the primary liquidity provider for a variety of blockchain-based central limit order book (CLOB) DEXs business. This strategic shift allows them to provide liquidity across multiple layer 1 blockchain ecosystems and diversify their services, including providing liquidity to decentralized finance (DeFi) projects. In addition to CLOB DEX, Kronos also provides liquidity for other types of DEX and DeFi projects, and uses different models such as RFQ (quote) and LP (liquidity provider) to provide support for platforms such as 1inch and WOOFi.
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