BINANCE VIP HEAD SAYS HEDGE FUNDS ARE EXPLORING CRYPTO ARBITRAGE

Summary from the TLDR Crypto newsletter

Catherine Chen, Binance's head of VIP and institutional, said traditional hedge funds are more actively exploring crypto venues, drawn by arbitrage on TradFi instruments such as cash equities and perpetual futures, improved depth, and 24/7 weekend price discovery. She said Binance's cash-equity assets under management rose from about $800-900 million to $1.4 billion, and TradFi perp volume went from $20-30 billion a month at launch to about $400 billion every 30 days, though she called engagement early and said to watch the next 12 to 18 months.