Flash Boys in the Crypto Cloud

<p>Institutional investors are playing a more-influential role in crypto markets as retail traders retreat, and that explains much of the recent range-bound price action, according to <a href="bbg://people/profile/22872070" data-cke-saved-href="bbg://people/profile/22872070">Michael Safai</a> of proprietary trading firm Dexterity Capital. </p> <p>“We might have been playing checkers two years ago,” said Safai, whose firm traded more than $1.2 trillion in crypto last year. “We’re playing chess now.” </p> <p>Safai joined the <em>What Goes Up</em> podcast this week to discuss the state of the digital-asset market and how high-frequency crypto trading strategies differ from the famous “Flash Boys” of the stock market. </p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>