In a move that is downright shocking, another former big time Wall Street player has made his way into the crypto space.
The Gemini cryptocurrency exchange has announced the hiring of Robert Cornish to serve as their chief technology officer.
Why is that a big deal?
For one, it is the first time this position has even existed at the Gemini crypto exchange.
Secondly, and much more significant, Robert Cornish is the former New York Stock Exchange Chief Information Officer.
Yes, the same New York Stock Exchange that you see mentioned everyday in the financial news papers and often goes by the abbreviation "NYSE"!
(Source: http://www.thecommentator.com/article/6786/free_markets_out_perform_state_led_capitalism)
Um, wow!
The news was announced late last week and seems to have been lost in the shuffle.
The entire release can be found here:
https://www.coindesk.com/crypto-exchange-gemini-hires-former-nyse-tech-chief/
You may recall, Gemini is the exchange founded by billionaire brothers Cameron and Tyler Winklevoss.
In a statement about the hire, they had this to say:
"Rob is a tremendous addition to our team. He will ensure that Gemini continues to deliver the best platform experience to our customers as possible and set the standards of excellence for the cryptocurrency industry as a whole."
(Source: https://www.coindesk.com/crypto-exchange-gemini-hires-former-nyse-tech-chief/)
This is yet another example of someone from Wall Street making the leap into the crypto space.
(Source: https://hacked.com/daily-analysis-another-risk-off-day-on-wall-street-amid-crypto-plunge/)
Crypto to disrupt everything?
In my opinion, those that are thinking that crypto will eventually be a part of the traditional stock markets may be slightly off, I am starting to develop a somewhat different opinion...
The more I see stuff like this, I am starting to think that the crypto industry may run parallel to the traditional stock markets.
It will compete with stock markets for capital and likely pull trillions out of traditional stock funds.
ICOs will disrupt IPOs and the crypto market will possibly disrupt the entire investing ecosystem.
We are a long ways off from this, but if every asset can be tokenized, what point is there to have shares in the first place?
Stay informed my friends.
Image Source:
https://www.finder.com.au/the-flippening-from-wall-street-to-crypto-street
