4 ms·
No public source but number seems approximately correct +/- 1bn. Their 2021 pnl was over 10bn though so they still up massively.
by smabie 4y ago
No public source but number seems approximately correct +/- 1bn. Their 2021 pnl was over 10bn though so they still up massively.
- yhat1136 4y agoI've also heard that 10-man team at Tower made about $3B trading crypto last year. The team leader got a $600M bonus.
- puranjay 4y agoHalf the traders I know who were sitting on 3000% gains in 2021 are down to 300-500% gains by 2022. Crypto markets fall apart as quickly as they go up. Most who entered the market in late 2021 are down and will be down for years (forever if they're holding some dead altcoin).
- futevolei 4y agoYou are referring to mark to market gains/losses and not actually realized, correct? Like jump didn’t actually clear 10 bill in profit or lose 4. They were in early size and let it ride but actually investment was small, do I have it right?
- smabie 4y agoMark to market and realized losses are the same thing for a trading firm.
- kolbe 4y agoWhat's $10bn less short term cap gains taxes less $4bn?
- pcthrowaway 4y agoIIUC you don't pay capital gains when you're operating a trading firm, you keep a balance sheet and subtract losses from gains
- kolbe 4y agoThis is true for some asset classes. I cannot speak to crypto, though.
- wbl 4y agoYou don't trade your money. You trade the clients money and take 2% of the assets and 20% of the gains. Notice the customers don't have yachts.