Is Crypto Finally Getting Its Martini Moment? London Firm Bets on Trump-Era Boom

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Imagine, if you will, a handful of ex-currency wizards from London — Crossover Markets Group Inc. — dusting off their bowler hats and prepping for a dramatic entrance onto American soil. One wonders if they’ll be greeted by a ticker-tape parade… or simply the IRS in a bad mood.

Apparently, institutional appetite for digital trinkets (sorry, assets) has been inflating faster than an old Etonian’s ego at a garden party. Naturally, Trump’s rather shimmering embrace of crypto has proved the canape that tempted Crossover to RSVP to the U.S. bash, Bloomberg suggests.

Founded in 2022 by chaps with titles longer than a royal procession — Messrs. Mulvihill, Mazzarese (both of Jefferies vintage), and Vladislav Rysin (who once ran the tech at Euronext FX), the lads had prudently kept their platform as far from American regulators as gin from tonic.

A pro-crypto United States 

But now, with Trump waving the flag for all things crypto (and presumably, all things golden), the FOMO simply couldn’t be resisted. “We’ve been fortifying the drawbridge for U.S. traders — etiquette classes pending,” quipped CEO Mulvihill. The CROSSx platform may debut its live trading as soon as one can say “end of Q2 or early Q3,” depending on how the stars align — or more likely, the lawyers.

CROSSx is, at heart, a delightfully slick electronic communication network: anonymous, quick on the trigger, and more liquid than a Mayfair cocktail bar — which is music to any institution’s ears, especially if they’re allergic to risk.

Bespoke liquidity pools are on offer — pick your poison, darling. Execution and custody are separated like scandalous aunts at a family wedding. 🍸

To add a little fizz, Crossover clocked in $13.5 billion in trades last year and pocketed a rather handsome $12 million Series A funding in June 2024 (cheers to Illuminate Financial and DRW Venture Capital for picking up the tab). Mulvihill claims quarterly volume is growing faster than the guest list to a certain Mar-a-Lago soirée — and they might just pass the hat for another round if demand keeps up.

Trump’s troops are whispering sweet nothings about deregulation and “crypto-friendly” appointments, which has global firms like Crossover positively swooning at the thought of U.S. expansion. The dancers are taking the floor, the band’s tuning up… and even the regulators seem to be in a forgiving mood. Who says finance can’t be a cabaret? 🕺💸

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2025-05-05 19:41