Flow Traders

Flow Traders announced its 2Q/1H 2024 results today, with a Net Trading Income of €79.5m compared to €49.5m in 2Q 2023, and EBITDA of €21.1m compared to €3.2m in the same period last year. Net Profit was €12.8m, with basic Earnings Per Share (EPS) of €0.30, compared to a Net Loss of €4.3m and EPS of -€0.10 in Q2 2023. Flow Traders has also initiated a multi-layered Trading Capital Expansion Plan to take advantage of significant opportunities it sees in the market and to move the company into a growth phase. Mike Kuehnel, CEO, said: “Over the past 18 months, Flow Traders has made a concerted push into new markets, asset classes and geographies, with considerable success. Following the arrival of the newly constituted Board we have conducted a broad-ranging strategic review and concluded that we have a significant opportunity to capitalize on this period of development and move Flow Traders into a growth phase. “A critical element of this development will be the expansion of our trading capital base, especially given the significant returns we have generated on trading capital historically. Following a review of the various options to achieve this, we are implementing a wide-ranging trading capital expansion plan. As a first element of this we recently secured a €25 million bank term loan, and we are looking at several other ways to increase external financing. “We have also concluded that a central pillar of the plan, and the most cost-efficient means of increasing our trading capital, is to increase the level of retained earnings in the business. Accordingly, we are suspending regular dividend payments until further notice, a move that will accelerate the expansion of the trading capital base and that the Board is confident will generate long-term value for the shareholders. “We believe that the firm’s new trading capital expansion plan and the continued expansion of our diversified set of existing and newly emerging trading strategies will deliver significant returns and further strengthen Flow Traders’ role as a leading global trading firm, providing liquidity and efficiency across a wide range of financial markets.” Read the full results here https://lnkd.in/e6tJdgix

Congratulations to our portfolio company Primary Portal, they have completed their Series A led by Deutsche Börse Ventures. Primary Portal’s ambition to increase transparency and efficiency in global financial markets aligns perfectly with our Flow Traders Strategic Capital approach.

Creating awareness about the benefits of digital assets and how the innovation in the space will transform global financial markets is a focal point to our strategy. We were thrilled to join RULEMATCH’s recently launched podcast which is focused on educating and driving awareness across the entire financial landscape. Michael Lie, Global Head of Digital Assets sat down RULEMATCH, one of our ecosystem partners to share how seven years ago, Flow Traders started their digital assets journey and how over the years the developments such as creating a secure, institutional-grade infrastructure has become crucial to increasing adoption of cryptocurrencies. Michael shares the noticeable trend towards more low-latency solutions, leveraging TradFi practices and dives into how the crypto market are seeing the emergence of diverse trading models, both on-chain and off-chain ensuring optimal liquidity and price discovery. Interested in finding out more? Listen to the podcast here: https://lnkd.in/dQErpzWU

We are delighted to also be supporting Grayscale Investments with the launch of Grayscale Ethereum Mini Trust (ETH) and their flagship Ethereum fund, Grayscale Ethereum Trust (ETHE) uplisting to NYSE Arca.

With the approval of Ether ETFs in the U.S, it is another monumental day for digital assets evolution!     Ethereum, the second-largest network by market cap at $400 billion, boasts a vibrant and robust ecosystem. These approvals represent a key milestone in the ongoing institutional adoption and widespread awareness of Ether and digital assets more broadly.     We are also thrilled to continue working closely as lead market maker for 21Shares and 21Shares US to provide liquidity to these innovative products and further advance the convergence of traditional finance and crypto.

We truly embraced unleashing the liquidity during our first internal Digital Assets Summit. We believe in creating awareness on the potential digital assets can bring to the financial landscape and therefore take pride in establishing initiatives to engage the community. We were joined by our partners from D2X Group (Theodore Rozencwajg), ClearToken (Benjamin Santos-Stephens, and AllUnity (Rupertus Rothenhaeuser), facilitated dynamic workshops on the developments in DeFi, market insights and innovations that will continue to drive adoption across the industry. 

Introducing W3BWAVE, the first dedicated Crypto talent pool in the Netherlands! Flow Traders and Deribit have joined forces to foster talent in this evolving landscape. The impact of crypto on trading has been both profound and multifaceted and we expect it to reshape traditional financial markets with unprecedented speed. As this space evolves, we want to ensure that the next wave of talent looking to develop careers in trading or technology is properly equipped to understand this fast-changing world and its full potential. This is why we have established this talent pool and are looking for enthusiastic students to join. Mike Kuehnel, CEO Flow Traders commented: “In the rapidly evolving crypto and digital assets space of financial markets, fostering talent is not just a strategic advantage but a fundamental necessity. The continuous influx of skilled professionals drives innovation, ensuring that cutting-edge solutions emerge to address complex challenges. Talented individuals bring fresh perspectives, while nurturing talent cultivates a culture of resilience and adaptability, essential for navigating the volatile and dynamic landscape of cryptocurrencies and the arising digital assets landscape Investing in talent development ultimately accelerates the growth of the crypto and digital assets ecosystem, positioning it as a cornerstone of the future financial infrastructure.” Luuk Strijers, CEO Deribit added:  “Understanding digital assets could be very valuable in today's rapidly evolving technological landscape. For our future leaders, gaining knowledge about digital assets is not just an academic exercise; it's a vital skill that will empower them to navigate and thrive in the digital economy of the future. As digital currencies, blockchain technologies, and virtual assets become increasingly integral to various industries, students equipped with this knowledge can be at the forefront of innovation and economic opportunity.” Do you want to find more about what you can expect as a member? Click here: https://lnkd.in/eqDHbzZn and for Deribit's https://lnkd.in/eyPGazXz

To enhance liquidity and provide comprehensive services to our users, #Bybit is proud to announce the launch of the Spot Liquidity Pairing Program. This initiative aims to connect leading Market Makers (MMs) in the industry with projects seeking improved liquidity. As more participants join us, we would like to take a moment to congratulate our "Premium" MMs who have topped the chart in July 2024: · Amber Group · Auros · CyantArb · DWF Labs · Flow Traders · Pulsar · RAVEN Join us in this program to explore new possibilities. https://lnkd.in/dAeeUq-2 Find more information here: https://lnkd.in/dVcFFfaj #BybitInstitutional #Bybit

This year's EthCC was momentous as Ethereum marked its 10-year anniversary. Let's dive into what took place last week in Brussels: 💡 Ethereum co-founders Vitalik Buterin, Joseph Lubin, and Gavin Wood took center stage and emphasized Ethereum's foundational role in decentralized applications and called for more research and community collaboration to overcome current blockchain limitations.   📢 We sponsored and participated in the Movement Labs' Integrated Day hosted. Movement Labs is developing the first Move-EVM Layer 2 on Ethereum, integrating the strengths of the EVM. Laszlo Fodor joined a panel on the topic. 🍸 Next, we co-hosted an afternoon mixer with Eclipse Foundation and Anza. Eclipse is pioneering the integration of the Solana Virtual Machine (SVM) on Ethereum, aiming to leverage the strengths of both ecosystems to create a more performant and scalable Layer 2 solution. 🎤 We were also happy to be part of the inaugural Borderless Summit, hosted by SynFutures, a leading decentralized derivatives protocol that enables on-chain futures and perpetual contracts trading for a wide array of assets. Ruben Brons participated in an panel during the Summit on liquidity considerations for projects. 🏃♂️ Finally, we were proud to be part of Pyth Network’s announcement of Express Relay. The launch of the Express Relay service on mainnet is a significant milestone aimed at eliminating the long-standing issue of Maximal Extractable Value (MEV) in on-chain applications. Laszlo Fodor once again took to the stage to talk about our role and partnership with Pyth and how we believe this is a game-changer. Read more here: https://lnkd.in/e5xNNZkT

We are looking for talent to join our growing Technology Development Team in our Cluj office. The role we are looking to fill is Senior Software Engineer. The ideal candidate is curious, methodical, a multi-tasker and immersed into multiple facets of technology! In this role, you will: 📏 Align requirements, implementation, and standards with the global Java Engineering Team 🖥 Deliver core roadmap items which require real-time and/or critical-path software ⌨ Write efficient code, create new designs and maintain existing applications with a focus on low latency and stability 📋 Work in small teams grouped by business area and follow agile practices 📖 Own a set of related applications and work in tight, daily collaboration with business owners More than 40% of our team works within our Technology Department, focused on creating, developing and building next generation applications to power our teams! Bright minds work together and are given the freedom to generate and foster innovative ideas that make an immediate impact. Apply now: https://lnkd.in/eCNHDvyE