While the cryptocurrency winter is forcing a number of layoffs at many companies, others are pushing for hiring. Bitcoin ETFs issuer 21Shares is expanding its team, and in very senior positions.
CFO highly desirable
It turns out that despite the poor condition of the cryptocurrency market, qualified and new employees are still in high demand. 21Shares has set its sights on hiring several new CFOs to expand its presence in jurisdictions such as France, Germany and the United Arab Emirates. It is worth mentioning that these are widely known names, having previously represented banks such as JPMorgan and Barclays. They themselves have decided to share their opinions on the current state of the market.
Marina Baudéan, the newly appointed head of 21Shares for France, Belgium and Luxembourg, has 15 years of experience working at Barclays. She comments on her start in the crypto industry as follows:
“I started my career in electronic trading of fixed-income instruments back in 2000, when traders told me they would never trade electronically. More than twenty years later, this market is now very electronic. Making the transition from traditional finance to cryptocurrencies was a natural progression for me.”
Oliver Schäfer, has been appointed as the new head of 21Shares in Germany. His previous experience includes at least 15 years spent at US investment bank JPMorgan. He comments on the change of employment, which he has currently made, with these words:
“I believe in the long-term opportunities of cryptocurrencies – the asset class is growing and is only in its early stages of development, so I focus on the long-term rather than short-term market conditions.”
In further words, Schäfer added that the current time is very exciting for cryptocurrencies. In doing so, he admitted that he made his first investment in the sector in 2020. Currently, he is increasingly fascinated by the development of blockchain technology and the horizons it opens up.
Distrust a natural companion to development
Schäfer is a particularly interesting figure in this view. His boss to date has been Jamie Dimon, who, despite having brought cryptocurrencies into the realm of JP Morgan investments, has always spoken about them with a great deal of skepticism. Schäfer finds some justification for this approach:
“It is important to remember that throughout the course of history, many people were initially skeptical of technological developments before they were accepted into the mainstream – as in the case of computers and cell phones. This is the natural course of technological progress.”
The 21Shares lineup has also expanded to include the former head of asset management, at Dubai-based Al Mal Asset Management, Sherif El-Haddad. In turn he frames his presence in the market as follows:
“I believe in the fundamental virtues of cryptocurrencies and in their growth expected over the next decade. Therefore, I am positioning myself under them accordingly.”