Crypto trading firm folkvangtrading is still going despite suffering a major blow during the FTX collapse. 'We're happy we're still standing.' oknightcrypto reports
Speaking on a recent video call from a high-rise Singapore office building, Folkvang's van Rossum provided a candid account of the"messy" situation in the aftermath of FTX's collapse.
Folkvang acts solely as a proprietary high-frequency trading firm. It doesn't offer any other services as an over-the-counter desk or do market-maker token deals. It relies on a blend of algorithmic strategies that includes arbitrage trading, yield farming and market making."We learned a hard lesson with FTX," van Rossum continued."We found that risk is real. We thought it could never really happen in the way it did, so we are a lot more risk averse now.
Although directional risk for Folkvang is minimal, the fall of FTX has intensified the fears of counterparty risk. Holding assets on an exchange has always been frowned upon by bitcoin maximalists, but for a trading firm like Folkvang it's unavoidable. Arbitrage trading involves buying an asset for a certain price on an exchange and selling it immediately for a higher price on another; this requires active capital across multiple centralized venues.
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