Wall Street Quants Joining Bitcoin Startups

The cryptocurrency industry used to be the realm of those frustrated with the government’s control on the monetary system but bitcoin startups now seem to be attracting highly-paid individuals from Wall Street. Some are leaving their established positions in financial firms to join bitcoin companies while others are starting their own.

“A lot of people are entering the bitcoin space as the sector has reached an overall level of funding that’s hard to ignore,” said Jaron Lukasiewicz, founder and chief executive officer at New York-based bitcoin exchange Coinsetter. Lukasiewicz previously worked in private equity at The CapStreet Group in New York before leaving in 2012.

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Lure of Bitcoin Startups

Another example is Timo Schlaefer who holds a doctorate in financial engineering and was on his way to a promising career at Goldman Sachs in London. He previously worked with the bank’s mergers and acquisitions team then became an executive director of credit quantitative modeling. In February, he tendered his resignation launched a company called Crypto Facilities Ltd, which is a bitcoin derivatives trading platform.

“This is uncharted territory,” said Schlaefer. “It’s an exciting opportunity to participate in a

Read more ... source: TheBitcoinNews