Banker Leaves Goldman Sachs Searching for Crypto Riches 5-14-18

Goldman Sachs banker waves goodbye to Wall Street’s security in search of crypto riches

Two days after Chris Matta earned a prized promotion at storied investment bank Goldman Sachs, he shocked his bosses. He decided to walk away from it all.

It was mid-December, and Matta had just been told that after six grueling years toiling at Goldman, he had made vice president. Matta, who oversaw billions of dollars in investments in the wealth management division, had just climbed a rung of Wall Street’s hierarchy and was in line for more pay and status.

But Matta, 28, had a new goal in mind. All throughout 2017, the bitcoin he owned exploded in value.

With the help of two former colleagues from Goldman, Matta wanted to create an investment vehicle to take advantage of the intense interest in cryptocurrencies. He couldn’t wait.

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Commonwealth Bank surprised the market this morning with the announcement that CFO Rob Jesudason is resigning, effective immediately.

It appears to be awkward timing for the bank, given that Jesudason made the cut in late-March after new CEO Matt Comyn took an axe to the executive team.

And Jesudason’s next destination is also intriguing. He’s moving back to his previous base of Hong Kong to be the chief operating officer for blockchain outfit

“Blockchain will have a transformative impact on most industries in the coming years and will redefine operating models by streamlining businesses, while also reducing cost and risk,” Jesudason said.

Facebook reportedly plans to launch its own cryptocurrency

Facebook is reportedly planning to launch its own cryptocurrency, according to a report from Cheddar’s Alex Heath.

Currently, there isn’t too much detail, but the company is said to be specifically focused on using cryptocurrency specifically for facilitating payments on the platform…

…something that could be a pretty dramatic shift given Facebook’s huge user base and existing marketplace section of the site for buying and selling goods.

The company is also said to be investigating other ways to leverage the tokenized digital currency and its underlying blockchain technology across its platform, too.

About the Author

Pete is a full-time trader and mentor since 2000. Author of Equity Trader 101 and the Order Flow Method. He is dedicated to help self-directed traders to bust through the six-figure level.

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