Cryptocurrency Competition at the Tallest of Ivory Towers
December 7, 2020
Ah, what better use of the finest in education than financial manipulation? We learn from cryptocurrency and Web 3.0 news source Decrypt, “Oxford, Cambridge Students Compete to Make Money on Crypto Markets.” The competition was put to math and computer science students at the two prestigious UK universities by crypto algorithmic trading firm APEX:E3. The firm also brought Coinbase, FTX, SIX Digital Exchange, LMAX Digital, and ConsenSys in on the project. Reporter Robert Stevens writes:
“Since November 16, the students have been competing to make the most money from crypto exchanges Coinbase Pro and FTX, according to a press release APEX:E3 pushed out this morning. APEX:E3 said that students have already spent their days conjuring up algorithms that incorporate technologies and concepts as diverse as machine-learning, neural networks, and whale order trading. In return for their toils, APEX:E3 is providing Oxford and Cambridge students from math and computer science departments access to its APIs, technical support, mentorship, and an undisclosed amount of ‘seed funding.’ … When the competition concludes at some point next month, the clocks will stop and a panel of ‘industry leading judges’ will rate the teams on their algorithms.”
The winning team gets to keep that mysterious amount of seed funding plus their returns. Cambridge is billing the project as a “fun and risk-free way” for these handpicked students to learn about the cryptocurrency industry. It also looks like a cheap and salary-free way for the industry to pick some of the brightest young minds for profitable ideas. A win-win, I suppose.
Soon Facebook’s carpe diem will arrive and more excitement shall ensue.
Cynthia Murrell, December 7, 2020
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