Gate News reports that on March 13, Velotrade, a crypto proprietary trading firm founded by former derivatives traders from JPMorgan, Dresdner Kleinwort, and Bank of America, announced the launch of a crypto proprietary trading platform. The platform allows traders to operate trading accounts ranging from $5,000 to $200,000 without using their own funds, with profits shared accordingly. Velotrade stated that its team previously operated a fintech trade finance platform that has paid out a total of $2.5 billion to clients since 2016. The new platform will only support crypto asset trading and will utilize AI hedging and institutional liquidity bridging technology to replicate positions in the real market simultaneously when traders profit, creating a business model tied to traders’ earnings. The platform offers up to 6x leverage on BTC and ETH.
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