Over the past two years, the cryptocurrency industry has been growing at an accelerated pace. Hundreds of thousands of new investors have joined the market, including those who would never have had the opportunity to access traditional forms of investment.
With the emergence of a new class of amateur investors, there is also a need to create digital infrastructure. Just a couple of years ago, cryptocurrency trading required programming skills. Nowadays, most people can buy the most popular cryptocurrencies in just a couple of clicks.
The potential of cryptocurrencies and blockchain technology has also attracted a large number of large financial institutions such as JPMorgan Chase, Bank of America, Goldman Sachs and many others. Only Wall Street financial institutions still do not accept cryptocurrencies and blockchain. In fact, the digital market has borrowed a lot from Wall Street - including a lot of talent.
Former Goldman Sachs vice president Chris Matta made headlines when he and his two partners decided to move into the cryptocurrency space. Three top managers formed Crescent Crypto Asset Management. According to Bloomberg, Yuzo Kano, a former employee of the same Goldman Sachs, turned bitFlyer Inc. to one of the largest exchanges in Japan.
Kano is considered one of the largest “poachers” in the crypto industry. In May, Bloomberg reported that Kano had poached employees from Credit Suisse Group AG and Barclays Plc. One of them, a former Barclays trader named Daisuke Murayama, told reporters: “I just don’t see a future in traditional finance.”
Murayama is not the only one who prefers blockchain and cryptocurrencies to traditional finance. “As a former Wall Street professional, I can speak from personal experience,” said Ryan Taylor, CEO of Dash Core. “Prior to Dash, I was a hedge fund analyst and one of the partners at McKinsey & Company Business Technology in New York.”
“I decided to change careers because I realized the high potential of blockchain technology and cryptocurrencies as a payment system,” he explained. “Although at that time many people thought I was crazy because I left Wall Street, I must say that now the opinion of most of my former colleagues has changed dramatically.”
According to financemagnates.com
You May Also Like
Opinion: Wall Street whales skillfully manipulate the market
Wall Street companies successfully manipulate the price of the desired crypto asset in their own interests, conducting active media propaganda to increase or decrease the rate.
Bitcoin betting online from 1xBit
The well-known bookmaker company invites all fans of sports competitions to try their hand at betting in cryptocurrency. The company believes that due to losses in the market, gambling investors are now unable to make money from trading or mining, so it offers an alternative solution - try to make money on knowledge and intuition
