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Investors, CEOs Highly Optimistic in Talent Entering Crypto, Crucial For Growth

Throughout the past 10 years, Bitcoin and the crypto space have seen an inflow of new talent, many from the traditional financial sector and the broader technology industry.

Venture capital investors and executives in the cryptocurrency space remain optimistic in the increasing number of individuals that are beginning build on top of crypto, further solidifying crypto assets as an established asset class.

Coinbase CEO Sees Talent Moving to Crypto

In celebration of the 10th anniversary of Bitcoin, on January 3, Coinbase CEO Brian Armstrong released a statement on the promising growth of the dominant cryptocurrency and the current state of the Bitcoin ecosystem.

Along with the gradual increase in the adoption of Bitcoin as an alternative cryptocurrency, Armstrong emphasized that he sees more talented individuals come into the cryptocurrency sector, often times bringing their experience from traditional financial markets and other industries that could be used to strengthen the infrastructure around crypto assets.

Armstrong said:

“I believe we’re still at the beginning. The white paper signaled the start of a movement and the full promise of Bitcoin is still yet to be realized. Every day, I see more talented people coming in to the space, and I’ve never had more conviction about crypto and what it holds for the future. Happy 10th anniversary Bitcoin.”

Throughout 2018, Coinbase has appointed influential figures in the financial industry to its board including Chris Dodds, a senior private equity advisor and a Board of Directors member of The Charles Schwab Corporation to add expertise to its team.

Most recently, in September 2018, Coinbase appointed Brian Brooks, a former executive vice president and general counsel of Fannie Mae, the largest financial institution in the U.S., as its chief legal officer.

In major markets in Asia such as Japan and South Korea, a growing number of executives of large-scale financial institutions have also started to migrate to up-and-coming cryptocurrency liquidity providers and exchanges, establishing a regional trend throughout 2018.

In May 2018, a former Barclays executive Daisuke Murayama revealed he moved to Japan’s largest cryptocurrency exchange BitFlyer with a pay cut after struggling to see a future in traditional finance.

“I just didn’t see a future in traditional finance,” Murayama said at the time.

According to recent reports, many regions in the likes of China and Sweden are en route to becoming completely cashless societies with fintech applications surpassing the market valuation of some of the largest banks in the world with hundreds of millions of active users.

Last month, the People’s Bank of China (PBoC), the country’s central bank, had to issue a warning to merchants that the rejection of cash is illegal as many tourists in popular locations submitted complaints of merchants solely accepting digital payments made using Alipay and WeChat Pay.

Executives, traders, and analysts in the traditional financial sector that fear for a decline in relevance and overall demand for banks have come into the cryptocurrency and fintech space.

Crucial For Long-Term Growth

Several investors such as Spencer Bogart, a partner at a cryptocurrency venture capital firm Blockchain Capital, said that it is difficult to bet against many of the brightest minds in the technology and financial sector are developing on top of decentralized systems.

He said on Bloomberg TV:

“Most encouraging thing is the quality of the talent we’re seeing entering the space. If you talk to young people, this has captured their imagination. A lot of the brightest are saying I want to go work on Bitcoin”

If both young and experienced talent continues to move into the cryptocurrency space, especially throughout bear markets, the industry will be able to find improvements in the infrastructure supporting the asset class and establish the foundation for the next wave of investors, and users, and demand.

Featured Photo by Bethany Legg on Unsplash

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Joseph Y

Joseph Yung is a financial analyst and investor who has worked in the cryptocurrency and technology sector since 2013. He's worked with leading publications within the cryptocurrency space, providing unique insights, interviews, market analysis, and technology coverage. You can contact Joseph at

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