Two former finance executives have made their move back into the industry as the cryptocurrency sector celebrates the reelection of pro-crypto President Donald Trump.
Benoit Bosc, a former portfolio manager at Millennium Management LLC, and Michael Bressler, previously an Executive Vice President at Pacific Investment Management Co. (Pimco), have co-founded x2B, a new advisory business aimed at guiding digital-asset ventures.
Both having left their traditional finance roles—Bosc in October and Bressler in August—the pair have united their extensive experience to form x2B, Bloomberg reported Monday.
Token Launches Face Underwhelming Market Response
The consultancy aims to assist crypto projects with a broad range of services including fundraising, token launches, treasury management, and market-making strategies.
Bosc brings expertise from his time as general manager for the U.S. at digital-asset market maker GSR, while Bressler’s insights are drawn from his tenure as GSR’s global head of sales.
During a recent interview, Bressler highlighted the unique position they occupy at the crossroads of traditional and digital finance.
He noted the critical need for a deeper understanding of the dynamics involved in successful token launches, an area where many crypto projects have stumbled.
Recent token launches have faced criticism and underwhelming market responses, attributed by some to poor structural planning and inflated initial pricing.
Bosc emphasized the necessity for professionalism and transparency within the industry, outlining x2B’s commitment to fostering accountability among market participants.
The advisory firm, set to officially launch in November, already boasts a roster of ten clients and plans to charge a combination of fees, including future tokens and cash.
The reentry of Bosc and Bressler into the cryptocurrency sector coincides with a significant market surge, marked by Bitcoin breaking the $82,000 barrier for the first time ever.
The surge is further fueled by optimistic sentiments following Trump’s reelection as President of the United States, a development many believe will favorably influence the cryptocurrency industry both domestically and internationally.
Currently, Bitcoin is priced at $81,331, reflecting a 3% increase in the last 24 hours.
Year-to-date, the cryptocurrency has experienced an impressive 85% increase, with gains of 30% in the last 30 days alone.
Crypto Exchange Traffic Surges
It is worth noting that traffic to the top 20 cryptocurrency exchanges surged by 8% in October amid renewed interest among retail investors.
As reported, Pump Fun led the pack with a 100% increase in monthly visits, while BullX and Uniswap followed with 78% and 42% growth, respectively.
Major players Binance, WhiteBit, and Coinbase dominated total traffic, attracting 54 million, 33 million, and 30 million visits, respectively, for the month.
The spike in activity coincided with a rally in cryptocurrency markets, supported by several bullish indicators.
For one, Open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange rose by $1.1 billion, while expectations of lower interest rates and strong inflows into Bitcoin exchange-traded funds (ETFs) added fuel to the rally.
Furthermore, stablecoin inflows also signaled growing confidence, with $9.3 billion moving into exchanges on November 7, often interpreted as a precursor to further market gains.
The post Former Millennium and Pimco Executives Rejoin Crypto Market with New Advisory Business appeared first on Cryptonews.
