Major banks are building out teams dedicated to cryptocurrencies and the future of finance.
The crypto boom on Wall Street coincides with more funding and hiring in the start-up world. Crypto and blockchain companies raised a record $25 billion last year, an eightfold increase from a year earlier, according to CB Insights data.
However, JPMorgan did lose one of its highest-profile crypto deputies last year. Christine Moy is on garden leave after departing her role as managing director and global head of crypto and metaverse at Onyx. She has yet to announce her next move. "It certainly wasn't my primary job," Lader said. "It was kind of a hobby, as it is for so many people on Wall Street, and it definitely wasn't something that at the time I was thinking about, because it was early stages of adoption."
"This technology is so critical to the future of finance that it didn't feel like a risk at all," Lader said. "I was sad to leave the people I had loved working with for many years. I have tremendous respect for the firm, but it didn't feel like a risk. That's a great thing about where we are in Web3."
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