CMC Markets boss Peter Cruddas has said his firm will not be drawn into "churn and burn" cryptocurrency products as it continues to fish for big-spending investors.
Former Conservative party treasurer Mr Cruddas said his 'Project Tuna' plan aimed at luring in experienced, ultra-rich clients is here to stay as profits jumped 24pc for the year to March.
"It doesn't [end] - it's like asking when will Harrods have a McDonald's inside? It's not going to happen. It [Project Tuna] is our business model," he said.
Mr Cruddas, who became a multi-millionaire after setting up CMC in 1989, said he had little interest in the booming cryptocurrency sector, unlike some of his rivals. Although CMC recently...