The cryptocurrency and blockchain industry has just claimed its’ most recent victim in the war with the traditional banks! We have seen in recent years, a flurry of traditional bankers see the light and move to the other side of the financial aisle, the one they know is going to win in the long run.
The latest big banker to move from traditional banking to blockchain is Samir Shah, formerly head of JP Morgan’s asset management department has moved on from his role at JP Morgan to take the Chief Operations Officer, or COO, position at Pantera Capital, the cryptocurrency focused investment firm founded by Dan Morehead and Joey Krug, also both of which are former traditional bankers and investors that saw the promise in Bitcoin and other blockchains early on.
Showing The Maturity Of The Industry
When you look at things through the eyes of a retail investor, with prices at incredible lows and the sentiment of the markets being extremely grim. Seeing moves like this from people that have nice, cushy jobs in the traditional finance world, sticking their neck out and making the move into the blockchain space.
If we look beyond what crypto Twitter is doing, and look to what the bigger players in the game are doing, then we can be assured that this industry is not going anywhere but up in the future. The recent waves of meltdowns that we have seen in recent months is really only helping to make more mature investors in the space and show where the weak points are and really how to not repeat the same mistakes as Wall Street and the banksters have made which has ruined the traditional world.
It could be looked at both ways, for one, the true crypto fundamentalists really do not like seeing the institutions coming into our space, but in the other hand it is showing that we are going in the right direction and that it will take more moves from people like Samir Shah, moving into out space, to help make it a more mature industry.
In His Own Words
Samir Shah went to Linkedin to discuss the move:
After 12 fantastic years with JPMorgan, it is bittersweet for me to share that I will starting a new professional chapter. I’ve been incredibly fortunate at JPM, taking on many new challenges within the bank across Sales, Strategy and Digital roles. While each role was unique, the one constant was the amazing people I had the opportunity to work with every day. JPM is a very special space, and I will be forever grateful to my colleagues for shaping my professional and personal journey in such a profound way. I leave humbled, as a very proud alum, and a forever champion of the firm. While I will miss seeing many of you in the halls of 383, I am only a phone call away, and look forward to staying in touch.
As for my next step, I am thrilled to share that I will be joining Pantera Capital as Chief Operating Officer. Pantera is one of the industry’s leading investors in blockchain technology, and I’m excited to partner with Dan Morehead, Joey Krug and the broader Pantera team to help take the organization to new heights!
What Do You Think?
What do you think about the wave of traditional bankers moving from the traditional institutions over to the blockchain world? Do you think firms like Pantera Capital are good for the space? Or do they bring a more mature investor set to the industry helping to further the industry into the mainstream?
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