Head of CMC Peter Cruddas vows to stay away from ‘churn and burn cryptocurrency

The boss of CMC markets Peter Cruddas said that his firm would not be drawn into “churn and burn” products, the cryptocurrency, as it continues to catch the big-spending investors.

Former Treasurer of the conservative party, Mr Cruddas said that the plan of his ‘tuna project, aimed at luring in experienced ultra-wealthy clients are here to stay as revenue jumped by 24 PC in March.

“This is not [end] is all the same what to ask, when Harrods has a McDonald’s inside? It’s not going to happen. He [tuna] is our business model,” he said.

Mr Cruddas, who became a billionaire after setting up the CSC in 1989, said he is not very interested in the fast-growing sector of cryptocurrencies, unlike some of their rivals. Although in recent years the CMC…

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