PANews reported on May 6 that according to Bloomberg, people familiar with the matter revealed that Limestone Trading, one of Tower Research Capital's internal quantitative trading teams, has increased its capital allocation for its cryptocurrency trading books, and the company has also upgraded its infrastructure to play a more important role as a market maker in global cryptocurrency exchanges. As institutional investors rekindle their interest in digital assets after U.S. President Trump expressed support for the industry, Tower Research Capital is quietly increasing its bets on cryptocurrencies such as Bitcoin.
People familiar with the matter said the team is known for its machine learning-driven strategies across asset classes and has become Tower Research Capital's leading force in digital asset market making. The Limestone Trading team is said to have more than 50 members in New York, London, Singapore and Gurgaon. Previously, Tower Research Capital has scaled back its cryptocurrency business over the past two years after the cryptocurrency industry experienced turmoil, including the collapse of FTX and Alameda Research in 2022, and Binance's $4.3 billion settlement with U.S. regulators.
