Coinbase Names Tagomi Co-Founder Greg Tusar as VP of Institutional Products

Coinbase, which anticipates to debut in the public markets, said it appointed Tagomi co-founder and electronic trading veteran, Greg Tusar to serve as vice president of institutional products. Tusar’s arrival follows on the heels of Coinbase’s acquisition of the two-year-old cryptocurrency Prime Broker Prime Broker Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Read this Term, Tagomi, which caters to deep-pocketed crypto traders. The digital asset trading firm, with a team of 20, was co-founded by former HFT technologists, including Greg Tusar and Jennifer Campbell from Union Square Ventures. “Greg’s experience in both electronic trading and execution as well as trading infrastructure make him uniquely qualified to guide Coinbase’s institutional products as more professional traders and funds seek to allocate portions of their portfolios to crypto assets,” Coinbase said. Tusar, who had been global head of electronic trading at Goldman Sachs for more than 10 years, was chief technology officer at the company he co-founded in 2018, with partners Jennifer Campbell and Marc Bhargava. Greg’s career, which dates back to 1986, includes a range of electronic trading, technical infrastructure and market structure roles. After his role at Goldman Sachs, he served as co-head of global execution services and platforms at KCG Holdings, where he was responsible for its sales, products and platforms globally. In 2013, Greg joined KCG (now part of Virtu Inc.) and worked his way up through several senior roles, including a partner and global head of the firm’s equities electronic trading business.

Institutional Investor Money Sitting on the Sideline

Drawing on over three decades of experience, Coinbase will Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term Greg’s knowledge to develop new products that could usher in more institutional investors and solve the problems that made many of them wary of the space. He will focus on expanding Coinbase’s institutional client base, which already makes up about 60% of its total trading volume. “Greg joins Coinbase at a time when many of the world’s top hedge funds and macro investors are entering the space and searching for the right infrastructure through which to engage with crypto,” the exchange said in a statement. The San Francisco-based company’s institutional-grade custody service has already stored more than $7 billion in cryptocurrency on behalf of customers through its exchange. As for the newly-acquired Tagomi, the New Jersey-based crypto prime broker handles less than $20 million in weekly crypto volumes or about $1 billion per year. Greg replaces Dan Romero, one of crypto exchange Coinbase’s senior executives and early employees, who left the company in April 2019. Romero previously led the institution-focused section of the firm’s operations across the UK, Europe, and APAC regions, and later resigned after nearly five years with Coinbase.