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Crypto Street Popping in Chicago

If you have ears, you have heard about cryptocurrency and the technology behind it, blockchain. They are both extremely hot topics right now and are changing the way that people invest their money. Due to the popularity of cryptocurrency, it has become harder to find people that want to work on Wall Street. However, crypto street is popping in Chicago.

 

This leads to one question. Where is all of the talent going?

 

There is no secret that talent that would normally go to Wall Street is headed to Silicon Valley.  While this is true, there is also an increasing number of people who are headed to Chicago. This is so they can be part of crypto start-up companies, which, in case you didn’t know has become a very strong hub for just about any and everything crypto related. This includes both the technology, as well as trading.

 

So what makes Chicago so special in terms of cryptocurrency?

 

Chicago just happens to be the city that is leading the pack, when it comes to anything commodities/futures and options. This is due in part to Chicago being historically better than Wall Street when it comes to the options and the futures market, and bonds and stocks.

 

In cryptocurrencies the risk is much higher with volatility. This is very similar to the commodities/futures market, and options. All this means that in Chicago, they are already comfortable with higher volatility type trading.

 

While Chicago’s ‘Crypto-Street’ is growing larger every day, Wall Street is doing their best to try and catch up. While it will take some time before you see a cryptocurrency ETF or mutual fund on Wall Street, they are trying to catch up to Chicago and their Crypto-Street. A Goldman Sachs representative said, “We are breaking down the traditional wall separating traders and salesmen from quants to help them learn how to trade cryptocurrency.”

 

In the meantime, if you are looking for cheaper, faster trading in regards to cryptocurrency, Chicago is exactly where you want to be.