Citadel Securities, the market-making firm founded by Ken Griffin, the founder of hedge fund Citadel, is suing two former employees, claiming that they stole “trade secrets” when they set up their own market-making firm for cryptocurrencies, according to a report by Bloomberg.  The report files a complaint filed by Citadel Securities on Wednesday as claiming that Leonard Lancia and Alex Casimo started raising capital and building their high-frequency trading firm, Portofino Technologies, while still working at Citadel Securities and had access to proprietary information. The company is reportedly seeking a trial to determine the extent of monetary damages and potential

ARK36, a Cyprus-based alternative investment digital asset fund, has launched a new proprietary machine learning-based trading software system, which is aimed at improving the way its portfolio management team can navigate cryptocurrency trading.  ARK36 says the new software leverages “advanced algorithms” to enable its traders to make “more informed decisions, navigate market challenges and optimise their trading strategies with precision and confidence”.  The software can access updated cryptocurrency price information every second and is designed to predict price movements of specific crypto assets and complete either short or long-positions or not trade dependent on the market developments. It can make

Shares in Chinese education companies and the stocks of US tech companies expected to benefit from AI systems including ChatGPT, attracted the attention of large Asian hedge funds in the first quarter of the year, according to a report by Reuters.

Scion Asset Management, the hedge fund founded by Michael ‘Big Short’ Burry, placed wagers against several US regional banks following the demise of Silicon Valley Bank and Signature bank, according to a report by Reuters, citing securities filings released on Monday.

Sterling’s recent rally, which has made it the best performing major currency in the developed world so far this year, may be nearing the end of its run as hedge funds are now cashing in on its 3%-plus gain against the US dollar, according to a report by Bloomberg. The report cites analysts as saying that the Bank of England’s bullish growth forecast last week make the potential for positive surprises far less likely and that the UK’s stronger-than-expected economic performance is already well priced in, reducing the potential for further sterling strength. According to data from the Commodity Futures

A double-whammy of falling inflation and an unfriendly regulatory environment in the US has lessened bitcoin’s appeal, according to Paul Tudor Jones, founder of the $12 billion hedge fund firm Tudor Investment Corporation. Speaking on CNBC’s Squawk Box, Jones said: “Bitcoin has a real problem because in the United States, you have the entire regulatory apparatus against it.” And Jones – who in the past has cited bitcoin as an inflationary hedge – believes that with US inflation likely to continue falling, his sentiment towards the cryptocurrency is now far less bullish.   Back in 2020, Jones said the he

The Credit Derivatives Determinations Committee will meet on Tuesday to consider whether a “governmental intervention credit event” occurred when Credit Suisse Group AG’s Additional Tier 1 bonds were written down as part of the Swiss Bank’s rescue by rival UBS, according to a report by Bloomberg. If the panel of about a dozen banks and asset managers decides it did, it would be the first step in determining whether credit default swaps linked to the Swiss bank will be triggered and could potentially lead to a payout for a number of hedge fund firms.  Both FourSixThree Capital and Diameter Capital