At GSR, the firm’s bread and butter is market-making, where traders pocket the spread between buy and sell orders.
In stocks, that’s a nearly oligarchic business where the likes of Citadel Securities and Virtu Financial operate at lightning speed. In virtual currencies, where hundreds of exchanges offer free access at a slower pace, GSR can capitalize on the big volumes without splurging millions on high-frequency infrastructure.
A market-neutral strategy run by


















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