As a seasoned researcher with a knack for deciphering the intricacies of the financial world, I find the return of Benoit Bosc and Michael Bressler to the crypto space particularly intriguing. Their combined experience at prestigious institutions like Millennium Management, Pimco, JPMorgan, and Goldman Sachs, coupled with their recent stint at GSR, provides them with a unique perspective that straddles traditional finance and digital assets.
As a researcher delving into the dynamic world of finance, I find myself intrigued by the recent developments in the cryptocurrency market. Notably, two seasoned executives from prominent American investment management firms, Millennium Management and Pacific Investment Management Co (Pimco), are making a comeback to this space, coinciding with a significant market surge.
Previously employed as the portfolio manager at Millennium and the executive vice president at Pimco, Benoit Bosc and Michael Bressler have recently decided to leave their positions and establish a new cryptocurrency consulting firm called x2B, according to a report by Bloomberg on November 11th.
In November 2024, it’s anticipated that x2B will begin providing guidance for cryptocurrency projects across areas such as fundraising, token economics, and market-making strategies, as well as exchange listings and treasury management.
X2B co-founders left GSR following a bear market in crypto 2022
Prior to their tenures at Millennium and Pimco, both Bosc and Bressler held top positions at the cryptocurrency liquidity firm GSR for a couple of years. Bosc started there in 2022, while Bressler joined in 2021. They both departed from GSR in 2023, following a significant drop in the crypto market that occurred in 2022.
Bressler, with a background spanning nearly 14 years at financial titan JPMorgan, opines that only a small number of individuals situated where traditional finance and digital finance overlap truly grasp the complex workings of token issuances.
He said that x2B already has 10 clients and will charge fees in a mixture of a project’s future tokens and cash.
Previously employed as a crude oil dealer at Goldman Sachs for over nine years, Bosc expressed his belief that the cryptocurrency sector could prosper with a “more businesslike and open methodology.
As stated by Bosc, x2B intends to demand increased responsibility from the diverse market participants and service providers involved in token sales.
The crypto consultancy launches amid Bitcoin hitting $80,000
The duo Bosc and Bressler re-enter the world of cryptocurrencies as the market experiences an impressive surge, culminating in Bitcoin’s historic leap over $80,000 for the very first time on November 10th.
In 2024, optimism about cryptocurrencies has grown even more, fueled by Donald Trump’s win in the U.S. presidential elections. Many in the crypto industry think that Trump’s leadership will be beneficial for the burgeoning sector not just in the U.S., but worldwide, as they anticipate his administration to foster a supportive environment for its growth.
Currently, Bitcoin is being exchanged at approximately $81,331, marking a roughly 3% increase in value over the last day. Remarkably, it has risen about 85% since the start of this year, and over the past month alone, it has seen a 30% price jump, as per CoinGecko’s data.
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2024-11-11 11:40