'Mania is just absolutely peaking right now': TradingView's Pierce Crosby

2021-11-25 01:5366457

Source: THE BLOCK


"It seems very much like the mania is just absolutely peaking right now."

That's Pierce Crosby, general manager at TradingView. During this episode of The Scoop, Crosby joined host Frank Chaparro to discuss the state of the retail market in crypto and stocks, the data firm's institutional ambitions and its bid to take trading charts global.

The charting and social network currently boasts paying customers in 180 some countries across the globe. Today, TradingView is looking to grow and expand their company’s presence in Southeast Asia, Latin America, as well as in countries such as Turkey, Brazil, India, Thailand, and Cuba with plan to tap into networks in Japan as well, Crosby explained.

“Deployment of TradingView not just across the US, but globally is really the next mission for us.”

Crosby explained that to date TradingView currently has approximately 33 million users, and has had a virtually zero customer acquisition cost.

Plans for retail and institutional clients

Crosby told Chaparro that he expects retail interest in crypto to continue to grow as exchanges "gamify" their platforms and move to meet the demand of consumers looking to capitalize on new products and token listings, such as dogecoin. "Infrastructure wise, things are just set up for retail to participate." 

However, TradingView is looking less to capture retail traders than it is to capture retail investors. Rather than competing with exchanges that use ICOs, products or fees to capitalize on margin, Crosby says the company has a longer-term view on this point.

"For us, it seems much more strategic to service investors than it is to service traders, just because volatility is volatility," he said. “I think most businesses that are set up for success, at least from what I've seen, are folks that are thinking more of the investor versus the actual trader."

Of course, there's also the institutional side of things, and according to Crosby, TradingView is looking to deploy some of the $298 million it raised this fall by building out some of its internal offerings for institutional clients. 

“We have over one hundred and fifty engineers now focused on this tech. So we've done well to replace a lot of internal technology and not just charts, but order management, portfolio management, execution engines, really, everything from the front, front end and middle layer,” Crosby said, adding: “Back end is not what we do.”


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