On The Brink with Castle Island cover image

On The Brink with Castle Island

Brandon Mulvihill (Crossover Markets) on the future of market structure in the USA (EP.601)

Mar 10, 2025
Brandon Mulvihill, co-founder and CEO of Crossover Markets, discusses the future of market structure in the U.S. crypto landscape. He explores how banks are adapting to regulatory changes and the emerging competition among exchanges. The conversation highlights the potential of Electronic Communication Networks for price discovery and the role of traditional institutions in the crypto space. Mulvihill also shares insights on Crossover’s growth plans, including integrating AI to enhance trading efficiency and liquidity by 2025.
40:05

Podcast summary created with Snipd AI

Quick takeaways

  • The evolving regulatory landscape in the U.S. is facilitating increased participation of traditional banks in the cryptocurrency market.
  • Crossover Markets' execution-only model aims to enhance trading efficiency for institutions by allowing them to operate across multiple platforms without counterparty risks.

Deep dives

Future of Digital Asset Trading

The discussion focuses on the evolving structure of the digital asset trading market in the U.S., particularly in light of regulatory changes post-election. The expectation is that new frameworks for stablecoins and market structure will provide a more welcoming environment for digital assets. Institutional interest in this space has surged, with many banks showing readiness to engage, driven by a more favorable regulatory landscape. This momentum may significantly impact liquidity and trading practices, making the U.S. a leading player in the digital asset arena.

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