Fidelity Cryptocurrency Fund Creation Put On Hold In Search For Leadership
One of the most important financial firms in the cryptocurrency field, Fidelity Investments, had to put its cryptocurrency fund on hold until it will find a new fund manager. At the moment, the company is managing $2.5 trillion dollars in assets and has actively invested in crypto companies during the last years.
Fidelity Investments Searching For Experts
The situation is a little bit complicated for the financial firm. According to a report published by Business Insider, two former senior employees in charge of the fund decided to leave the firm and start their own crypto investment company. This is the main reason why Fidelity is searching for new senior employees and replace these two individuals that left.
The information appears just some days after rumors surfaced about the possibility that Fidelity was planning a cryptocurrency exchange. The company invests in crypto assets and cryptocurrency companies with its own capital.
Fidelity’s CEO, Abigail Johnson commented about this situation regarding the company:
“I’m a believer. I’m one of the few standing before you today from a large financial services company that has not given up on digital currencies.”
There are important talents that are moving from some important companies to start their own financial or crypto-related companies. For example, we can mention that two important Goldman Sach’s asset managers left the company and started BlockTower Capital, which is focusing in investing in virtual currencies and crypto-related enterprises. Moreover, it brings professional trading and portfolio management to the emerging digital asset class.
Another case similar to this was related to Sequoia Capital partner Matt Huang, who left the firm just to start a new crypto investment fund with Fred Ehrsam, Coinbase co-founder.
In the past, other employees have been leaving the company because they felt that the cryptocurrency world was a much more interesting place than traditional investments.