Ex-Goldman MD that left Coinbase is hiring at his new gig

Last month, crypto prime brokerage FalconX hired Thomas Doyle, an ex-Goldman Sachs MD based in London that spent the last year and a half at Coinbase. It's not done hiring in Europe yet, as Doyle stated his new company's intent to hire at the 2023 Digital Asset Conference.

"The strongest have survived," Doyle said, "which has given us an opportunity to add talent." Doyle says the San Francisco-based firm has "dominated in the US," and predicts that it will be the "largest institutional player in Europe" within 12 months.

Doyle says FalconX's USP in the market is how "nimble" it is, particularly regarding the crypto derivatives market. After what was a "really tough year to be a hedge fund or asset manager in crypto," he says the expansion of the options market has encouraged institutions to "trade as many tokens as we show them."

FalconX is targeting the "middle lane" between quant and macro traders. This may include the major multistrategy hedge funds; the brokerage's founder Raghu Yarlgadda, also speaking at the conference, said it "just onboarded one of the top five hedge funds in the world who’ve never touched crypto before."

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