Just saw that IMC Trading brought in Alex Casimo to head up their crypto client business. Casimo was running Portofino Technologies before this and spent time at Citadel Securities, so he knows the market-making game inside out. Feels like a pretty intentional move - IMC already does like $3B in daily volume across equities and crypto, but now they're clearly trying to get serious about institutional relationships in the digital asset space. The whole traditional finance crowd is making these kinds of plays right now. Banks, trading firms, everyone's realizing they can't ignore crypto anymore with better regulation and infrastructure actually starting to exist. Alex Casimo heading this up suggests IMC sees real demand from institutional players looking for professional trading and liquidity services. Makes sense - as crypto matures, these kinds of specialized market-making operations are becoming more valuable to serious counterparties. Interesting timing.