High-Frequency Crypto Trader Says Institutions Are Taking Over
Dexterity Capital’s Michael Safai contends the game is no longer checkers—but chess.
Photographer: Tomohiro Ohsumi/Bloomberg
This article is for subscribers only.
Listen to What Goes Up on Apple Podcasts
Listen to What Goes Up on Pocket Casts
Listen to What Goes Up on Spotify
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 Michael Safai of proprietary trading firm Dexterity Capital.