PANews reported on November 11 that former executives of Millennium Management LLC and Pacific Investment Management Company (Pimco) are developing consulting businesses in the digital asset field, according to Bloomberg. Benoit Bosc, who worked as a portfolio manager at Millennium, and Michael Bressler, who recently served as executive vice president of Pimco, left in October and August, respectively, to start a digital asset consulting company x2B. The company will launch in November and currently has 10 clients. The company will charge based on the future mix of tokens and cash for the project.
The company will provide consulting services to crypto projects including fundraising, token issuance, financial management and market making arrangements. Bosc previously served as the US general manager at digital asset market maker GSR, while Bressler served as the global sales director at the company for a year and a half. "Few people understand the complex dynamics of token issuance at the intersection of advanced traditional finance and digital finance," Bressler said in an interview. Bosc said the industry would benefit from "more professional and transparent practices," adding that x2B plans to promote "more responsibility for the various market participants and service providers involved in these issuances."
