Executives from Millennium Management and Pimco Launch Crypto Advisory Firm x2B
Former executives from Millennium Management and Pacific Investment Management Co (Pimco) are establishing an advisory firm in the cryptocurrency sector. This development follows Donald Trump’s election as a pro-crypto US president.
Benoit Bosc, a former portfolio manager at Millennium, and Michael Bressler, previously a vice president at Pimco, departed their roles to found x2B, a crypto consultancy firm. The firm aims to launch this month with 10 clients and will charge fees through a combination of future tokens and cash. x2B will provide guidance on tokenomics, fundraising, exchange listings, and treasury management.
x2B Aims to Bridge Traditional Finance and Token Issuance
Bosc and Bressler possess extensive experience from their prior positions in traditional finance, having held senior roles at crypto liquidity firm GSR before leaving in 2023. Bosc was the US general manager, while Bressler served as the global head of sales for 18 months.
Bressler noted that many lack a comprehensive understanding of token issuance, which intersects traditional and digital finance. He highlighted x2B's fee structure and stated:
“Few people understand the complex dynamics of token issuance at the intersection of high-end traditional finance and digital finance.”
Bosc affirmed that x2B would enhance the crypto industry by promoting professional practices, urging all parties involved in token issuance to accept greater responsibility.
Trump’s Pro-Crypto Stance Fuels Optimism for x2B’s Launch in a Bullish Market
x2B's launch coincides with a bullish trend in the crypto market, particularly as Bitcoin recently reached an all-time high of $82,000. The positive sentiment may be linked to Trump’s presidency, as he has publicly supported digital assets, advising traders to hold their Bitcoin.
Trump's influence could lead to favorable conditions for the crypto industry, including less stringent regulations. x2B's establishment during this period is expected to facilitate alignment between emerging crypto projects and traditional financial systems. Their involvement in token issuance and fundraising may contribute to the industry's maturation, fostering a more sustainable and regulated environment. Additionally, their expertise could enhance organization and transparency within crypto projects, potentially attracting institutional investors.