Ryan Rabaglia has had a colorful career trading forex, equity, and oil before making his way into the cryptocurrency markets. He's witnessed crypto develop from a niche, uninvestable curiosity to a liquid and financialized global asset. Now Managing Director and Global Head of Trading at OSL, one of the largest digital asset brokerages in the world, Ryan has a unique view of crypto markets. We invited Ryan on the show to talk his personal journey to crypto, how he established himself at a leading digital asset platform in Hong Kong, and of course his market color on the dollarization of crypto markets, and how Tether is understood and used in Asia. In this episode: 

• Ryan's journey from commodity trading to Bitcoin
• Ryan's explanation for Tether's explosive growth since March
• How funds play the Tether arbitrage game
• The compression of margins in OTC desks
• Where Tether's accumulated credibility derives from
• Whether there is a perception that Tether would resist regulators if it came to a fight
• Whether cryptodollars are forcing out BTC as reserve collateral
• How March 12 was a catalyst for the growth of Tether
• The growth of alternative use cases for Tether outside of inter-exchange settlement
• Why traders prefer dollars, regardless of jurisdiction

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About OSL: OSL is an Asia-based digital asset brokerage that provides a global counterpart network with a suite of institutional products and services. OSL's capabilities include industry-leading over-the-counter trading with access to large pools of liquidity, systematic RFQ, exchange and custody services for institutions and professional investors. OSL is part of BC Group, which is publicly traded in Hong Kong. Learn more about OSL at osl.com.