Kronos Research joins Token 2049 to strengthen its market-making foothold in Asia
SINGAPORE, Sept. 12, 2023 /PRNewswire/ -- TOKEN 2049 - Kronos Research is bullish on the growth of virtual assets-related projects in Asia as its new leadership meets with partners at Token 2049, Asia's largest Web3 gathering for decision-makers across the spectrum of traditional finance, big tech, and global regulators, crypto-native entrepreneurs, and builders.
In a statement, Kronos' newly appointed CEO Hank Huang said the firm will bolster its position as the go-to-market maker in both centralized and decentralized exchanges, ensuring ample liquidity in the cryptocurrency markets despite the current bearish market conditions.
"We plan to invest more funds and resources into market making as we expand into regions such as in Asia, work with newly established DEXs, and provide liquidity for popular assets. We are taking the opportunity to meet current and future partners and the exchanges who are also here at Token 2049," Huang said, noting that the firm had tripled its market share in the last quarter.
Huang said Kronos is opening a new office in Singapore and has secured new fund registration in the Cayman Islands. "The US regulation is pushing crypto to Asia since Asia is receiving attention due to its more open regulatory environment. We have also secured fund registration in Cayman as part of our compliance efforts," Huang noted.
Meanwhile, Vincent Liu, the new COO of Kronos announced that on the venture side, they are looking to invest in more projects to take advantage of the increase in higher-quality protocols with lower valuations during the current bear markets.
"The bear market serves as a natural litmus test for projects that are just looking for quick profits. We are looking to invest in those who patiently build strong projects during tough times, driven by a long-term mission, not quick gains," Liu noted.
New management vision
Huang and Liu, who have risen through the ranks at Kronos, have been appointed as CEO and COO, respectively, to spearhead Kronos's ambitious expansion into high-growth regions.
"In our rapidly evolving industry, my leadership emphasizes adaptability and seizing new opportunities. This demands continuous learning and honing core skills. While the market's future is uncertain, our focus is clear: leveraging our research prowess to provide more robust and deeper liquidity for projects and exchanges," Huang said.
"In the midst of this bear market, we embrace relentless building – diversifying strategies, deepening crypto insights, and forging partnerships. Our commitment to Kronos's DNA remains steadfast as we unite with all teams, navigating challenges and driving collective growth," Liu meanwhile said.
Huang began his career at Allston Trading, excelling in High-Frequency Trading. He co-founded 84 LLC and Coinful Capital, developing trading systems and strategies. He joined Kronos as CTO in 2019, achieving top market maker rankings. He holds degrees in Computer Science and Finance from MIT.
Meanwhile, before becoming COO, Liu led Asset Management and oversaw risk and trading at Kronos. His trading career began at Belvedere Trading, an option market maker, where he spent over 8 years and held the position of Partner and Director of Electronic Trading. Liu received a BS and MS in Electrical Computer Engineering from Carnegie Mellon University.
As one of the world's leading market-makers, Kronos' daily crypto trading volume averaged billions across top global exchanges with a worldwide team of 100 professionals.
Since 2021, Kronos transitioned from primarily focusing on centralized exchanges to expanding into the decentralized exchange (DEX) sector, becoming a key liquidity provider for various blockchain-based CLOB DEXs (Central Limit Order Book DEXs). This strategic shift has allowed them to offer liquidity in multiple Layer 1 blockchain ecosystems and diversify their services to include liquidity provision to DeFi Protocols. Aside from CLOB DEXs, Kronos also provides liquidity to other types of DEXs and DeFi protocols and uses different models like RFQ (Request for Quote) and LP (Liquidity Provider) to offer liquidity to platforms like 1inch and WOOFi.
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