Wall Street loses top people at Bitcoin startups

With his doctorate in finance Timo Schläfer would have a good chance by Goldman Sachs. But the 34-year-old gave up the world of billion dollar deals and million bonuses and founded his own company, Crypto facilities, a trading platform for derivatives on the internet currency Bitcoin. “This is uncharted territory,” says Schläfer. “It’s a great opportunity to work on a new technology that has massive potential.” Just as he now think more and more top people and return of Wall Street’s back.

So far, the crypto currency has caused mainly by fraud and security breaches making headlines. Despite the bad reputation some financial experts now focus on the rise of the currency: Highly paid Wall Street managers leave their jobs to start startups, large corporations build their own Bitcoin departments. “A lot of people come into the Bitcoin world because it has become so large that they can be difficult to ignore,” said Jaron Lukasiewicz, founder of Bitcoin exchange Coinsetter.

This year, the investment in Bitcoin companies have been tightened: Was it 2014 yet total of 339 million dollars (309 million euros), this year already was $ 375 million alone in the first six months together. Angel List, an online marketplace for startups seeking money, counts 814 young Bitcoin companies on looking for investors – a year ago there were less than half as many. And even large companies are looking for Bitcoin expertise.

The 31-year-old Paul Chou, founder and head of Ledger X, a trading and settlement platform for Bitcoin options, lured the prospect of high profits in the future in the world of crypto currency. The former Goldman Sachs trader hopes his company will soon be admitted to the first company in the industry by the regulatory authorities and thus enables professional investors access to Bitcoin options. “I have very large wage losses taken into account in return for shares in a company, the amount of money may eventually be worth,” he said.

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