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In the murky world of cryptocurrencies, most traders stay under the radar, betting that anonymity provides some protection against getting hacked, exposing strategies or worse. Alameda Research is taking the opposite approach, allowing the firm's trading performance to be highlighted on a so-called leader board posted on the BitMex exchange where other users go by names such as Heavy-Autumn-Wolf and Honeysuckle-South-Rib. He had just finished a three-year stint at the quantitative-trading firm Jane Street Capital. One of the trades in his first year was taking advantage of the over 30 percent premium Litecoin was selling for on the exchange Coinbase. While many crypto exchanges offer 100 times leverage -- letting traders borrow 100 times more than they put down on bets -- Alameda never uses more than four times margin, Bankman-Fried said.He is now trying to make 2 basis points per trade, and make lots of such transactions every day -- but that's easier said than done. The firm had just opened an over-the-counter trading desk, and wanted to be better known to exchanges and clients.
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