The crypto OTC trading desk Cumberland, a subsidiary of DRW, explained that on June 13, the firm saw 30% more volume than the previous year-to-date high on May 13.
Over-the-counter trading desks allow high-net-worth crypto traders to trade coins without affecting spot markets as much as they would trading on a traditional exchange. OTC trading desks also provide liquidity for big buyers that smaller exchanges cannot provide. A number of companies offer OTC services to crypto traders like Kraken OTC, Falconx, Cumberland, Athena Investment Services, Crypto Desk, B2C2, Bankhaus Scheich, Bitpanda Plus, and Coin Cola.
When Cumberland first started, news reports noted that the company was able to acquire massive amounts of bitcoin via a few U.S. Marshalls’ operated auctions. Cumberland offers more than 30 different digital assets against 500 pairs, and the company claims to be “one of the largest liquidity providers in the cryptocurrency space.” Speaking about the recent crypto market rout, Cumberland disclosed that lots of crypto volume came directly to OTC desks.
The crypto market bloodbath had shown a significant amount of leverage was wiped out during the last two weeks. Cumberland suggested that quite a bit of the flow on June 13 was liquidations. A number of crypto lending firms have been accused of being liquidated on very large positions in recent times such as
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mother of 13-year-old killed by San Antonio police says she wants justiceLynda Espinoza remembers her son, AJ Hernandez, for having a big smile and long hair.
Read more »
N.J. woman charged with leaving scene of crash that killed 13-year-old on dirt bikeMarilyn J. Quisepe-Falcon, 36, faces several charges for allegedly leaving the scene of a crash that killed 13-year-old Victor Huaringa-Alvez, who was a seventh-grader at Belleville Middle School, prosecutors said.
Read more »
San Antonio police officer who killed 13-year-old also fatally shot man last year; man’s family disputes police account of 2021 incidentMontez’s family says he wasn’t lunging at officers when he was shot.
Read more »
Family of 13-year-old fatally shot by San Antonio police officer starts GoFundMe to cover funeral costsLee Merritt, the attorney representing the boy's family, said he plans to file a civil suit against the city. SanAntonio SATX SanAntonioTX PoliceAccountability Texas CivilRights
Read more »
Golden State Warriors’ NBA Finals Game 6 Championship Clincher Scores 13.99M Viewers For ABC; Once Again, Up From 2021 & Down From 2019Taking down the Boston Celtics 103-90 in Game 6 of the 2022 NBA Finals in the Massachusetts metropolis last night, the Golden State Warriors cemented their dynasty with their fourth championship in…
Read more »