A crypto trader setting up a hedge fund apologised for making so much money

A casino dealer collects chips at a roulette table inside Solaire Casino in Pasay city, Metro Manila, Philippines, March 27, 2015. The Philippines has emerged as one of Asia's hottest gambling hubs after it launched its 120-hectare (1.2 square km) gaming and leisure enclave called Entertainment City in the capital, modelled on the Las Vegas strip. When paying your final respects for a relative or friend, the last thing you might expect to see at the wake is people placing bets on a card game or bingo. Not in the Philippines. Filipinos, like many Asians, love their gambling. But making wagers on games such as REUTERS/Erik De Castro

 

Lawyer John Lore advises hedge funds and has seen a spike in specialist crypto funds asking for help. He said the background of his crypto clients is much more diverse than traditional fund managers. Some people approaching him about setting up funds are amateur traders who made it big. One would-be fund manager was so embarrassed by his new found wealth he apologised for turning $600,000 into $8 million.

LONDON — Cryptocurrency traders have become well-known for conspicuous displays of wealth.

Rows of Lamborghinis were parked outside the recent Consensus conference in New York and some attendees blew off steam at after parties in exclusive clubs with champagne, vodka, and even drugs.See the rest of the story at Business Insider

NOW WATCH: Millennials are leading an investment revolution — here’s what makes their generation different

See Also:

Universities are starting to invest in crypto, according to an industry lawyerA top crypto hedge fund lawyer explains the 4 main trading strategies that funds use to make moneyCrypto company Ripple is giving $50 million to universities including Princeton, MIT, and UCL for blockchain research

SEE ALSO: A top crypto hedge fund lawyer explains the 4 main trading strategies that funds use to make money

DON’T MISS: The Justice Department is investigating crypto market manipulation — here’s why it’s such a big problem

NEXT UP: JPMorgan has asked a 29-year-old highflier to draw up a cryptocurrency strategy

Read more: feedproxy.google.com

Leave a Reply

Your email address will not be published. Required fields are marked *