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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