Ken Moelis Is Looking Into the Crypto Space, Compares It to 1848 Gold Rush
The investment banker wants his company to develop expertise in the crypto space before diving in.
Jun 9, 2021 at 5:09 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JSY4I6P64NFU5DM3FH6HCIKKQY.jpg)
Ken Moelis, founder, chairman and chief executive officer of Moelis & Co.
Ken Moelis, CEO and founder of global investment bank Moelis & Co., said that he is looking into the crypto space for new opportunities in business as well as for himself during a Bloomberg Deals summit Tuesday.
“Maybe on the personal side, definitely on the business side, we are focused on having expertise,” Moelis said on the program. He also noted that while he believes that there is a lot of capital and projects in the market, he remains careful about the sector.
The company is not the only traditional bank that has recently announced it would get more involved with cryptocurrencies. CoinDesk recently reported that Goldman Sachs participated in a Series A funding round of Blockdaemon, a leading blockchain infrastructure platform that raised $28 million.
Moelis compared the current obsession with cryptocurrency to the 1848 gold rush, saying that “a lot of people didn’t know if there was gold in the ground, but Levi’s made a business selling jeans and Wells Fargo made a banking business.”
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.