Trading Firm CEO: Bitcoin Has Emerged Stronger From Bitfinex Hack

Trading Firm CEO: Bitcoin Has Emerged Stronger From Bitfinex Hack

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Since the Bitfinex hack, bitcoin capital markets have shown resilience and pricing risk is more realistic, according to Gavin Smith, CEO of trading and financial services firm First Global Credit, who offered a positive assessment of the post-Bitfinex environment at the recent Capital Markets Blockchain Conference in London, reported Finance Magnates.

Gavin Smith addresses the conference.

Gavin Smith addresses the conference.

Smith gave a summary on how his company and others have reacted to the Bitfinex hack. Market participants took collateral not required to fund existing hedge positions and put it in cold storage. Rates on BTC have since improved, but they are still lower than loaning U.S. dollars. Smith thinks this will improve.

Investors Using More Exchanges

A bigger change has been investors’ spreading their bitcoin among more exchanges and doing more due diligence on the exchanges. Smith thinks risk is being priced more realistically, and he thinks the industry overall is healthy.

Smith stressed that the experiences forming his views are based on his companies’ experiences and those of his

Read more ... source: TheBitcoinNews


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