According to the CNBC report, global investment management firm Pimco plans to start trading crypto assets.
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Speaking at the Delivering Alpha conference, Pimco CIO Daniel Ivascyn said that the firm, which manages the $2.21 trillion investment, wants to gradually introduce crypto support:
The company’s several hedge fund portfolios have already turned to trading crypto-asset-backed securities.
Ivascyn claimed that DeFi has the potential for destructive power that could threaten Pimco’s business. For this reason, he stated that as a company, they have to adapt to the new environment.