Asking for a friend. Which topic should she research to get into a propietary trading firms like Jump, Virtu, Tower, DRW, Jane Street, Hudson River Trading, etc. Specifically their cryptocurrency groups. Should they focus on the data pipeline side (does anyone use flink)? Mempool analysis / attempted front-running strats? Dex stuff? Fast ML at the edge? Security? Wallet/address tracking/analysis (similar to chainlysis)? Fastest possible order book combination from hundreds of exchanges? Looking for weaknesses in smart contracts / defi? Cross exchange arb or market making? Things that seem like they don't apply to crypto: -FPGAs (at least for trading, yet) -Sub microsecond stuff (all exchanges are gated behind aws latency, except for deribit where you can colocate, unlike in equities where time is measured in nanoseconds) -Most traditional math and pricing models -Regulations and rules that apply to equities (spoofing, stuffing, layering, etc) -FIX? In some cases it might be faster but it seems like most people are using websockets -Options and ETF stuff
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It's hard to just get into a crypto group. Normally you just try to get a job then they would place you. Really though, she should look into Alameda research. They're the best/basically only crypto-based trading firm. They're very selective but your friend should learn more about them if they're interested in crypto prop-trading.
Lol in hindsight
Man........ This did not age well at all