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Murillo spent years in tradfi before working in cryptography after a long career in mainstream finance, john murillo, An b2broker sales manager, explained that the way in which brokers pick market makers remains the same: Besides that, I guess, "Prices are not in USD or Euros and Bitcoin () and any crypto," highlighting the distinction between the traditional financial market and the crypto market."“our approach on crypto makers is no different than it was in my old days, in which you evaluate counterparties, where you select the people you wish to connect and embed. During the European blockchain conference in Barcelona, cointelegraph discussed the subject with leading market leaders in the crypto industry on one of the first panels of the conference.
Cointelegraph reporter joseph hall has elaborated the analogy that crypto market makers are a little like cool bartenders to a very high-tech and shameless cocktail party nerdy. Their job is to maintain the circulation of beverages, that is, to provide cash flow and to ensure that everyone has a good time while maintaining order in the marketplace.
Cointelegraph's @JoeNakamoto hosting the "Why Market Making is Key for a Crypto Market Recovery" panel at the European Blockchain Convention where he so eloquently described what a market maker is pic.twitter.com/3EoJnNXLyU
— Cointelegraph (@Cointelegraph) February 16, 2023
Their job is to maintain the circulation of beverages, which is to provide liquidity and to make sure that everybody has a good time while maintaining order in the marketplace. Ultimately, market makers are there to manage risk and make sure the bouncers kick out the likes of Sam Bankman-Fried and other bad actors.
Basically, crypto marketers are the ultimate part planners. At the end of the day, the marketers are there to manage the risks and make sure that the bouncers are driving people like Sam Bankman-Fried and other bad actors out.”
Instead of balloons, cakes and a Spotify playlist, they use lever algorithms and control books. Head of Business Strategy to a major crypto manufacturer, stef wynendaele, suggested that "this is a big definition. It implies too much power on what a market maker does."" We're actually the dance floor. We're the music, honey. We are in fact a dance floor.
We're the music, honey.
For Patrick Heusser, Chief Commercial Officer at Crypto Finance, the bartender analogy works well. We're still with you. This is 9 o'clock and 5 o'clock in the morning."
Wynendaele suggested that market makers are the underpinnings of a thriving crypto economy and that they are not actually "the bartender who controls who drinks and who doesn't."
At EBCFor, Keyrock's Stef Wynendaele explains Patrick Heusser, Head Commercial Officer at Crypto Finance, the bartender analogy works well.
However, 'someone must take care of the logistics,' he said. "Somebody has to make sure there's enough beer in the back and other stuff for drinks, and the infrastructure of the market is super important for the market makers." -- in the event of failure, You only have price displays, and if you cannot resolve certain transactions with certain counterparties or if you are not comfortable doing so, the market is not as attractive as it should be." So if cryptography were one part of it, Market makers could be the strip, the music, and mechanics. Guilhem chaumount, President and Chief Executive Officer of flowdesk market makers based in France, explained that we also have to remember that in crypto space, "There's not a bar in town, There's a dozen bars. Some of the programmes are centralised or decentralised. Guilhem Chaumount, Managing Director of French-based Flowdesk, explained that we also have to remember that in crypto space, "There's not a bar in town, There's a dozen bars.
On top of that, “The prices are not in U.S. dollars or euro and Bitcoin () and whatever crypto,” underlining the distinction between traditional finance market making and crypto market making.
You have so many drinks, 20,000 drinks available. You have no idea what's in it." Chaumont listens to the panel, "prices are not in US dollars or in euros and bitcoin () and any crypto," highlighting the distinction between the traditional financial market and the crypto market.
Following an extensive career in traditional finance, John Murillo, a chief dealing officer at B2Broker, explained that the way in which brokers pick market makers remains the same: “You just choose which party to attend because everyone has a party."
While in cryptography, there is a more technological approach because assets are infinitely more difficult at cost. Murillo spent years in Tradfi before working in cryptoFollowing a long career in mainstream finance, John Murillo, B2Broker's sales manager, explained that how brokers choose market makers is still the same:"
In all, Chaumant summed up that market makers carry a "huge responsibility." He shared that while Bitcoin () might have recently reclaimed $25,000, The industry will not recover without the aid and assistance of market makers.
