Sameer Shah – who spent 12 years as Global Head of Digital Solutions at JPMorgan – announced his departure from the financial institution. His next career move includes joining as Chief Operating Officer (COO) at Pantera Capital – an investment firm focused on cryptocurrencies.
From Traditional Finance to Crypto
It is safe to say that the cryptocurrency sector has been hit hard by the price drop of most digital assets, including bitcoin. As a result of panic and investor outflow, many companies in the area decided to lay off a portion of their workforce. The major exchanges – Cryptocom, Coinbase and Bybit – are among these.
Contrary to that trend, former JP Morgan top executive Samir Shah revealed that he would hop on the crypto bandwagon by joining Pantera Capital as chief operating officer. He said his 12 years at the Wall Street giant were “fantastic” and the feeling of being separated from his old team is “bitter”.
“JPM is a very special place, and I will forever be grateful to my colleagues for shaping my professional and personal journey in such a deep way. I become humbled as a very proud alum and forever champion of the firm,” he said.
On the other hand, he demonstrated his enthusiasm to land a role at Pantera Capital and join forces with its leaders – Dan Morehead and Joy Krug. Shah described the crypto firm as a major investor in blockchain technology and vowed to take it to “new heights”.
Pantera Capital’s Bitcoin Stance
Contrary to many crypto critics, such as Paul Krugman and Richard Bernstein, who claim that bitcoin is a Ponzi scheme, in December 2021, Dan Morehead – the founder and CEO of Pantera Capital – argued that the bond markets were “inhibited” by the Federal Reserve. manipulation” and they are real deceitful schemes:
“Governments should stop obsessing about bitcoin and look inward. The biggest Ponzi scheme in history is the US government and mortgage bond market – 33 trillion-with-AT-dollars – all as a non-economic actor. which is conducting business on the basis of material, non-public information.
In February this year, Pantera Capital released a report titled “The Next Mega-Trade”, in which it outlined the reasons why the primary cryptocurrency could soon start a bull run. Specifically, the company believes that the price hike should happen around April 18 (known as “tax day”).
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