In a world that is rapidly trending back towards being more decentralized, the potential of blockchain and other DeFi-based applications is beginning to gain significant momentum in offering innovative approaches that reach far beyond the cryptoasset space. As part of a global trading firm that was an early entrant in cryptoasset markets and blockchain technology, Cumberland is excited to help bring these solutions to fruition and advance infrastructure in a market that is continuously evolving.
Best known as the purchaser of Beeple’s digital art piece ‘Everydays: The First 5000 Days,’ Vignesh Sundaresan (aka ‘Metakovan’), is a Singapore-based blockchain entrepreneur, coder and angel investor. In this wide-ranging discussion, Metakovan talks with Cumberland’s Global Head of Business Development Justin Chow, about his interest and approach to the NFT market, as well as his vision for the role NFTs will play in everyday life in the future. Watch the full interview:
How did you learn about DRW? I learned about DRW through Brian, who manages the team I’m a part of. I was introduced to Brian and after hearing about DRW I was immediately drawn to the organization. I had a background working in the cryptocurrency space and Cumberland DRW happened to be hiring for a position I felt I was a strong fit for me and my interests. Can you describe your interview experience?
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Brian – Director of Strategy for Cumberland, DRW’s crypto asset subsidiary Thad – IT Desktop Team Lead Zach – Head of Strategic Planning As DRW has worked to maximize the ability of our people to work remotely, what has been the biggest challenge for you and your team? THAD: Providing and assisting users with new work-from-home technology has been an exciting challenge for my team. From creating new remote setups to demonstrating how to utilize the equipment, we worked quickly to take common requests and create a standard template to provide information to users.
DRW has long been at the intersection of technology and finance, so it’s no surprise they’re at the forefront of the latest financial revolution: cryptoassets. The principal trading firm and its cryptoasset subsidiary, Cumberland, are working to bring predictability and clarity to a rapidly-evolving industry. To do so, developers are building off the tools and expertise that have previously helped them create agriculture and fixed income market models. Read more at Built in Chicago.
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One year later – Matt: I developed a personal interest in cryptoassets by learning directly from the Cumberland team. I would often stop by after the markets closed on the grains desk to talk to my friends about the various assets they were trading, the underlying Blockchain technology, and the fact that these markets never closed. I was intrigued by the space so when I saw an opportunity to join the team, I reached out to talent acquisition and two weeks later I was working full time on Cumberland.
At the CoinAlts Fund Symposium in New York City on Thursday, Don Wilson, CEO of DRW Holdings, discussed what hopeful signs he’s seeing amid greater regulatory uncertainty, what crypto regulations in other jurisdictions he finds smart, and how the regulatory cloud is affecting the decisions of institutional investors. Listen to the full episode at Unconfirmed.
His mission: to explain why these holdings, including cryptocurrencies like bitcoin, are important and “will change the world,” he told about 200 people gathered yesterday for a CFA Society Chicago luncheon in downtown Chicago. Read more at Crain’s.
It was a signal to the market, but cryptocurrency still lacked serious interest from mainstream banks and institutional investors. Today, we’re looking at a very different market and, as one of the largest liquidity providers in the space, Cumberland has had a front row seat to the evolution — or revolution, depending on your perspective. Over the last several years, anyone who was following cryptocurrency or involved at all in the markets alluded that “Wall Street” was coming.
Kim Trautmann is the Director of DRW Venture Capital. Kim has been personally and professionally investing in financial technology for over a decade. How did you get into bitcoin? I was first introduced to the bitcoin and blockchain industry in 2013. I had a meeting with an influential investor and all he talked about was bitcoin. This was one of my most memorable early conversations because he knew so much about the space and couldn’t have been more excited.
DRW Holdings LLC uses quantitative models to buy and sell bitcoin, for its own account and for use as a market maker — firms that grease the wheels of finance by buying, selling and quoting prices. Cumberland, DRW’s digital-currency unit, says it has traded more than $20 billion worth of bitcoin, ethereum and other cryptocurrencies in the past year. That makes it one of the top market makers in the sector, traders said.
I joined DRW after a short and less than optimal experience at a competing trading firm. I was uncharacteristically optimistic and equally nervous about how this experience would shape my career, especially given the dissatisfaction I had felt in my prior role. From the outset, I was met with kindness and generosity from my colleagues, a willingness to share information and, generally speaking, a positive energy that clearly flows from the top down.
With partners that include the CME Group mercantile exchange, principal trading firm DRW and the State of Illinois, the Chicago Blockchain Center (CBC) was set up to help incubate local blockchain startups, mentor entrepreneurs and students, conduct original research and host a variety of events. Read more at Coindesk.