NEW YORK--Track Data chairman and CEO Barry Hertz got a margin call that he couldn’t meet and was reported to owe $45 million to four unidentified brokerage firms.
Hertz, it seems, had gone long on technical stocks, which sources say were part of his own portfolio. Unfortunately for Hertz, this coincided with the drop on the Nasdaq on April 13 and 14; sources say he had borrowed heavily beforehand to play the market. The result: as the shares tanked out, Hertz was reported to owe $45 million.
Anthony and James take a look at the interdealer broker space and quickly hit on whether or not bitcoin ETFs are to come in the near future.Subscribe to Weekly Wrap emails