According to Bloomberg, GSR, a London-based company, is implementing a new structure to better serve its global clients amidst the booming crypto market. The company's co-founder, Rosenblum, revealed this in a recent interview. GSR, with approximately 200 employees worldwide, has seen its revenue triple in the first half of the year compared to the same period last year.
Rosenblum, who previously served as president, co-founded GSR in 2013 with Chairman Cristian Gil. Before GSR, Rosenblum was the global head of crude oil and derivatives trading at Goldman Sachs and led energy-trading teams at two New York-based hedge funds. He is likely to relocate from Puerto Rico to the US mainland.
Singapore-based Song, who joined GSR in 2019, was the company's chief operating officer. His background in algo trading has been instrumental in maintaining GSR's profitability, ensuring a good return on its treasury, and strengthening its balance sheet during the crypto market downturn.
With the crypto market rallying, following the approval of exchange-traded funds investing into Bitcoin, and the anticipated approval of similar funds holding Ether, the CEO role is becoming increasingly demanding. Rosenblum stated that the company now needs to maximize the value it can provide to clients in alt coins and create future projects that clients will use in two years. He believes that being physically present in the US time zone will make it easier for him to communicate with stakeholders.
Rosenblum also mentioned that GSR is profitable and has never raised outside capital.
