Former PIMCO and Millennium execs launch crypto consultancy x2B

On November 11th, according to Bloomberg, former executives from Millennium Management LLC and Pacific Investment Management Co. (Pimco) are launching a consulting business in the digital asset field. Benoit Bosc, who previously served as a portfolio manager at Millennium, and Michael Bressler, who recently served as an executive vice president at Pimco, left their positions in October and August, respectively, to start the digital asset consulting company x2B. The company will launch in November and currently has 10 clients, and will charge a mix of tokens and cash based on the future of the project.

The company will provide consulting services for cryptocurrency projects, including fundraising, token issuance, financial management, and market-making arrangements. Bosc previously served as the U.S. general manager for digital asset market maker GSR, while Bressler served as global sales director for a year and a half. Bressler said in an interview, "In the intersection of senior traditional finance and digital finance, few people can understand the complex dynamics of token issuance." Bosc said that the industry will benefit from "more professional and transparent practices," and added that x2B plans to push "various market participants and service providers involved in these issuances to take on more responsibility."