Luke Hoersten (Bitnomial) on Digital Asset Derivatives (EP.549)
Episode publishedPodcast: On The Brink with Castle Islan...On The Brink with Castle Island
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Host: Today on the podcast, I sat down with Luke Hurston, the founder and CEO of Bitnomial. Bitnomial is a US regulated derivatives exchange for digital assets. In this episode, we discussed the evolving market structure for digital assets in the US, the impact of stable coins, and the impact of the launch of Bitcoin and Ethereum ETFs in the US market. I think you'll enjoy this one. So without further ado, here's my conversation with Luke from Bitnomeal.
Matt: Matt Walsh and Nick Carter are partners at Castle Island Ventures. All of these expressed by them or the guests on this podcast are solely their opinions and do not reflect the opinions of Castle Island Ventures. Guests and those may maintain positions in the assets discussed in this podcast. You should not treat any opinion expressed by anyone on this podcast as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of their personal opinion. This podcast is for informational purposes only.
Luke: Brought down by Bad Mortgage Investments, Lehman, which has 25 1,000 employees, will be liquidated. The federal government loans American International Group, AIG, $85,000,000,000. This is a different kind of market and the That is a freak. The federal government is stepping it to stabilize Fannie Mae and Freddie Mac, the 2 mortgage giants that have been threatened by the
Host: housing crisis. The Bank England has pumped £75,000,000,000 more into Britain's ailing economy with a new round of quantitative easing.
Luke: You print a couple $1,000,000,000,000 and all of a sudden people start to worry. So out of this worry, we have something called the Bitcoin. Bitcoin.
Host: Luke, thanks so much for joining us today on the podcast. Excited to talk about bit nominal and market structure.
Luke: Yeah. Thanks a lot for having me. Me too.
Host: So we'd love to just kick it off with a little bit about your background and the path that led you to start the company.
Luke: So I have a technology background, computer science, and luckily got recruited in to proprietary trading right out of college without really knowing much about it. And I was just attracted with the technical complexity of the industry and then got thrown into some trading desks and got started on algorithmic trading and that side of things and started to get my feet wet. And then in, I believe it was, like, 2010, there was a lot of market unrest going on. I was on the FX desk at the time just seeing where people were hedging, what things looked like on the front lines, and there was a lo
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