Coinspeaker Former Millennium Management and Pimco Executives Launch Crypto Advisory Firm x2B amid Trump’s Pro-Crypto Shift
Former executives at Millennium Management and Pacific Investment Management Co (Pimco) are starting an advisory business within the crypto space. This is coming after the emergence of Donald Trump as the next US president known to be a pro-crypto person.
Benoit Bosc, a former portfolio manager at Millennium, and Michael Bressler, a former vice president at Pimco, left their positions in October and August, respectively, to launch a new crypto consultancy firm, x2B.
The new project is expected to launch sometime this month and already has 10 clients. x2B will charge them using a mix of future tokens and cash. The firm will focus on providing crypto projects with advice in areas such as tokenomics, fundraising, exchange listings, and treasury management.
x2B Aims to Bridge the Gap between Traditional Finance and Token Issuance
Bosc and Bressler bring with them a wealth of experience from their previous roles in traditional finance. Both had senior positions at crypto liquidity firm GSR before leaving in 2023. Bosc served as the US general manager, while Bressler was the global head of sales for a year and a half.
Bressler explained that most people do not fully understand the process of issuing tokens, especially since it involves both traditional and digital finance. He emphasized that x2B will charge fees using a combination of future tokens and cash Bressler stated:
“Few people understand the complex dynamics of token issuance at the intersection of high-end traditional finance and digital finance.”
Backing up Bressler’s word, Bosc stated that the crypto industry would gain from the professional and transparent practices that x2B will offer, adding that the company plans to encourage everyone involved in issuing tokens to take on more responsibility in the process.
Trump’s Pro-Crypto Stance Fuels Optimism for x2B’s Launch in a Bullish Market
The timing of x2B’s launch coincides with a bullish trend in the crypto market, with Bitcoin recently hitting a new all-time high of $82,000. The excitement surrounding the bullish crypto sentiment could be attributed to Donald Trump’s triumph as the next US president.
Trump has been vocal about his support for digital assets. In one of his campaign speeches, he admonished crypto traders never to sell their Bitcoin. Thus, it’s no surprise that more industries are now venturing into the crypto space and that the price of Bitcoin, along with the general crypto market, is feeling Trump’s influence, as many believe his administration would be favorable for the crypto industry in terms of less strict regulation
x2B starting at this period would also benefit the crypto space as it helps emerging projects align with traditional financial systems. Their token issuance and fundraising involvement will likely contribute to the industry’s maturity, potentially leading to a more sustainable and regulated market environment. Also, their expertise can help make crypto projects more organized and transparent, which could help raise the overall standards in the industry, making it more appealing to institutional investors.
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Former Millennium Management and Pimco Executives Launch Crypto Advisory Firm x2B amid Trump’s Pro-Crypto Shift
