Wall Street Pros feasting on Crypto market ignorance of retail sheep
By Justina Lee
(Bloomberg) – Wall Street traders like Trey Griggs are finding a new lease on life in the $2.4trn crypto Wild West.
After two decades in energy trading, the 51-year-old was lured by a former Goldman Sachs colleague this February into a new world of market-making in digital currencies.
Now he’s in fighting spirits – unleashing old-school finance tricks to exploit the industry’s rampant inefficiencies, volatility and downright weirdness.
“All the fun that used to be had 30 years ago in the commodity markets and is no longer fun – that fun is now in crypto,” says the US chief executive officer at GSR Markets in Houston.