A former Wall Street hedge fund manager will launch what he claims to be the first crypto investment bank. His goal: to tame the wild market of crypto coins and find the few nuggets.
Zhen Liu launched his Clipper Coin Capital bank in Hong Kong on Monday, according to a report by the «AsiaSentinel». The company listed its own token called CCCX on the city’s digital asset exchange, Coinsuper.
One of his major goals with the newly launched vehicle is to provide information to an investor public eager to get a share of the cake without burning their fingers on the multitude of scams.
Two Decades on Wall Street
Liu, who spent almost two decades in the hedge fund business on Wall Street, working for UBS, DE Shaw and Brevan Howard, believes that nine out of ten initial coin offerings are scams. «The goal is to create a premier investment bank for the cryptocurrency market, akin to the Goldman Sachs of the crypto sector,» Clipper Coin Capital's CEO told the «AsiaSentinel».
The new crypto firm has developed a rating system for crypto coins and plans to launch an exchange trade fund which will track the crypto market. Clipper Coin Capital is working to develop its business first in Hong Kong, but also in the U.S., according to the report.
