They say that the early bird catches the worm. This wise saying applies to the current happenings in the crypto-verse 100%. If you are a shrewd crypto trader, you usually browse coinmarketcap.com on a daily basis to identify potential gems before they become popular. The same principle can be applied to traditional bankers and traders abandoning ship from the big shot banks, and switching to the exciting world of cryptocurrencies and their exchanges. This world is dominated by Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and numerous other coins and tokens that cause a rush in the markets.
These crypto markets are a natural fit for young bankers and traders from mainstream investing, who want a piece of the accelerated market action in the crypto-verse. There are also cases of other individuals from different careers, such as engineering, ditching it all for a spot at the front row of this magnificent and promising world of blockchain and cryptocurrencies.
It is with such a background that Yuzo Kano, former Goldman Sachs alumnus, turned CEO of Bitflyer.inc, is on a furious hiring spree to scoop up traders and bankers from his old employer and other firms in the international arena of traditional banking and investing. Mr. Kano wants the best of the best to help run the bitFlyer exchange. His current team is made up of former senior employees , as well as young associates, from Barclays Plc, Credit Suisse Group AG, amongst other banking giants..
So what exactly is happening?
Firstly, and as earlier mentioned, Mr. Kano wants the best of the best at his bitFlyer exchange. He therefore is on a mission to only recruit the best and seasoned.
Secondly, bitFlyer is offering attractive salaries that might not be as big as on Wallstreet, but all full time employees at bitFlyer receive stock options and can cash them out ant any time without waiting for the company’s IPO. With respect to young traders, there is a new crop of disillusioned young bankers who are tired of the routine at wallstreet and want a taste of the startup environment that bitFlyer offers.
Thirdly, and as earlier stated, The Early Bird Catches The Worm. As with any new industry, the first ones to get in are usually the ones that manage to cash out with a big pay day. Evidence of this can be seen with the dot.com boom that saw individuals such as Elon Musk becoming instant billionaires through startups such as paypal.
In conclusion, the trend away from traditional banking and finance and into crypto is an indicator of where the tide is headed. Whoever said that crypto is a scam, will come to regret these statements when young 20 year olds, start owning islands, if already they have not started doing so.
[Photo source, ccn.com]