Jeffrey is the Head of North America Business Development and Institutional Sales at OSL, the market leading digital asset trading platform providing prime brokerage, custody, exchange, and SaaS services to institutional clients and professional investors. He has ran large global businesses across North America, EMEA, and Asia Pacific. Jeffrey has an established track record in growing large, complex, derivative platforms through margin efficiencies, product enhancements, and institutional sales growth.
50 basis points was priced in the market, so that was expected. The market rallied initially and then has sold off just a little bit since then because there are some more hawkish comments coming out regarding a potential 75 basis point hike on the next meeting. Bitcoin and ether rallied on the news, rising about 3.5% and 1.2%, respectively. Cryptocurrencies have recently been trading in line with equities, similar to a big tech stock. Market sentiment is very bearish, not only on tech stocks, but also on risk assets in general. Risk assets don’t do well in a rising rate environment, and so in general, I think the market is bearish.