My guest today is Ryan Sheftel, co-founder and CEO of Radkl, a new quantitative trading firm that brings institutional-grade experience from Wall Street to crypto markets everywhere. Ryan is also a Partner GTS, where he is responsible for building and running the fixed income business across the futures, cash bonds, and derivatives markets for all trading activities on public exchanges and bilateral dealing with the financial community. Prior to GTS, Ryan was the Global Head of Electronic Market Making for Rates and the Global Head of eCommerce for Credit Suisse. He was responsible for running the electronic market-making trading business and the customer-facing franchise, including the Credit Suisse Onyx platform. Ryan previously served as Principal and Portfolio Manager of the Malbec Quantys Fund, a multi-strategy systematic hedge fund, and as Portfolio Manager at Citadel Investment Group, where he headed Systematic Trading in the Global Rates Group. Before Citadel, Ryan was a trader in the mortgage department at Goldman Sachs and Lehman Brothers. Ryan graduated cum laude from the University of Pennsylvania’s Management and Technology dual degree program with a Bachelor of Science degree in economics, with a concentration in finance, and a Bachelor of Applied Science degree in systems science and engineering. We discuss a variety of topics including Radkl, Bitcoin, global financial markets, zero-interest rates, generational shifts, and much more. We begin our conversation by discussing Bitcoin. We discuss the recent announcement by Greenpeace, BlackRock, and other institutions of their intentions to move BItcoin from proof-of-work to proof-of-stake. We also discuss Bitcoin's role within the global landscape. We also discuss Biden’s executive order about crypto and the implications of possible regulation. The generational shifts within money markets and how that has impacted people's lives. We touch on the evolution of the perception of the banking system by discussing the differing perspectives various generations have towards banks and crypto. Ryan explains the impact of the Fed rates on retail consumers. Ryan goes on to discuss how the Fed thinks about monetary policy and how they implement those policies. Ryan breaks down Radkl’s role within crypto markets from providing liquidity to providing immediate risk transfer for institutions or people who have large orders. Our final discussion topic centered around how long will it take for Bitcoin to become self-evident within the mindshare of the populace. Please enjoy my conversation with Ryan Sheftel.
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