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Bitcoin start-ups lure quant wizards from Wall Street

Investments in bitcoin cos in first half of 2015 at $375.4 million exceeds 2014 total

Reuters  |  New York 

Armed with a doctorate in financial engineering, 34-year-old Timo Schlaefer was on his way to a promising career at Goldman Sachs in London. Previously with the bank's mergers and acquisitions team, he became an executive director of credit quantitative modeling at Goldman, where quants like Schlaefer are highly valued. In February he gave that up, and launched a company called Crypto Facilities Ltd, a bitcoin derivatives trading platform, which now has six employees. For now, the platform trades bitcoin forwards, which are directly linked to the price of bitcoin, but it's also ...

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First Published: Sat, August 08 2015. 21:18 IST