Cryptocurrency prices may be seeing a low point in their cycle, but the industry as a whole is still showing tremendous growth. In fact, the bear market has not even scared away investors from institutional firms like Goldman Sachs.

BlockTower Capital, a cryptocurrency hedgefund co-founded by former Goldman Sachs investment manager Matthew Goetz is actually expanding its staff in the midst of the current bear market, according to Bloomberg.

BlockTower Capital launched last year, and in that short time, the firm was able to hire new employees and open a second office. At their launch, they were able to raise $140 million through private investors. The BlockTower headquarters is in Stamford, Connecticut, but last month they opened a second office in New York.

The firm has not officially announced any additional positions, but the “careers” section of their website encourages blockchain experts to contact them about employment:

Talented individuals with a passion for cryptocurrency, blockchain technology, and investing in the world’s decentralized future may send a writeup with their perspective on the space and resume to: [email protected],” the website states.

Last year, the unprecedented cryptocurrency boom created a remarkable rush in the industry, with 156 crypto hedge funds launching in 2017.

Growth has slowed this year, however, but 2018 has still seen the opening of 96 crypto hedge funds. This still represents a substantial increase from 2016, where just 42 firms entered the market.

According to Coindesk BlockTower Capital has partnered with Galaxy Capital and other firms to develop a $16 million cryptocurrency investment project called Caspian – a platform designed to make crypto trading easier and more streamlined for institutional investors.

BlockTower co-founder Ari Paul explained:

Liquidity is fragmented across dozens of exchanges globally, each with their own quirky API connections. Professional trading software will facilitate greater liquidity in crypto assets.