Key Takeaways
- • Kbit, a crypto hedge fund and high-frequency market maker, is hiring for 17 open roles across the US, London, Hong Kong and Singapore, according to eFinancialCareers, signaling plans to more than double its current team of roughly 12 employees.
- • Founder and CEO Ed Tolson, formerly director of trading technology at Citadel, launched Kbit in 2017 as a side project during garden leave; the firm announced over $100m in assets under management in January 2024.
- • Kbit has added senior hires from established TradFi and HFT firms, including Thomas Johnson, formerly a senior quant developer at Citadel Securities, and Sean Slotterback, formerly a PM and head of statistical arbitrage at Tower Research Capital.
- • CTO/COO Marc Zeitouni previously spent three years as head of product for global trading systems at Tower Research Capital and served as CTO of Galaxy Digital.
Summary
Kbit, a crypto hedge fund and high-frequency market maker, is expanding its headcount rapidly, according to eFinancialCareers. The firm describes itself as having "~12 employees" and currently lists 17 open job listings for quant, algorithmic trading, DevOps and trade operations engineers. The roles are full-time, on-site positions across the US, London, Hong Kong and Singapore. The publication noted that social media data suggests the company may not yet have employees in Hong Kong or London.
The firm's leadership is drawn from traditional finance and crypto. Founder and CEO Ed Tolson was formerly director of trading technology at Citadel. He has said he began Kbit as a "side project" while on garden leave in 2017, and that the business "exploded into a real business" as bitcoin's price rose. In January 2024 he announced the firm had more than $100m in assets under management. CTO/COO Marc Zeitouni spent three years at Tower Research Capital as head of product for global trading systems and was previously CTO of Galaxy Digital.
Kbit has recently added senior hires. Thomas Johnson, formerly a senior quant developer at Citadel Securities, joined in April 2024 as a principal research engineer. In February 2024, the firm hired Sean Slotterback, formerly a portfolio manager and head of statistical arbitrage at Tower Research Capital. According to the firm's own job listings, the engineering-heavy team works almost entirely on back-end development for its automated trading system, with "basically no UIs," and describes its culture as "casual, scientific, and engineering focused" with "zero red tape."
The firm's leadership is drawn from traditional finance and crypto. Founder and CEO Ed Tolson was formerly director of trading technology at Citadel. He has said he began Kbit as a "side project" while on garden leave in 2017, and that the business "exploded into a real business" as bitcoin's price rose. In January 2024 he announced the firm had more than $100m in assets under management. CTO/COO Marc Zeitouni spent three years at Tower Research Capital as head of product for global trading systems and was previously CTO of Galaxy Digital.
Kbit has recently added senior hires. Thomas Johnson, formerly a senior quant developer at Citadel Securities, joined in April 2024 as a principal research engineer. In February 2024, the firm hired Sean Slotterback, formerly a portfolio manager and head of statistical arbitrage at Tower Research Capital. According to the firm's own job listings, the engineering-heavy team works almost entirely on back-end development for its automated trading system, with "basically no UIs," and describes its culture as "casual, scientific, and engineering focused" with "zero red tape."
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