So you left finance for crypto... will they take you back?

[Andy Nguyen]

I would be very interested to hear experience from our members who have moved between the two job types. Would it be easier to go from finance to crypto or vice versa?
The following article has some interesting takes on it.

Bahram says crypto firms are full of desirable self-starters who excel in flat structures. Established firms want these kinds of people - or they think they do.

Whether engineers, in particular, will want to come back is questionable, though. Crypto firms use popular languages like Rust, which tend to be less common in banks. The work they offer is often more interesting. "In crypto, systems are built from scratch and you don't spend 80% of your time fixing bugs," reflects Bahram.

So you left finance for crypto... will they take you back?

They're a hot commodity, just not for banks

www.efinancialcareers.com

 

[CharlieJ]

Those with crypto experience only generally won't thrive in tradfi. Those with tradfi experience can do well in both worlds.

Banks will eventually build out crypto desks, just like any other asset class. Those with experience in both worlds will command a premium. But that's separate conversation.

 

[CharlieJ]

In crypto, systems are built from scratch and you don't spend 80% of your time fixing bugs

Imho this is a naive statement. Yes, there is greenfield work to be done in crypto, but any developer who does not spend a large portion of their time fixing bugs is likely running buggy code

 

[Daniel Duffy]

Imho this is a naive statement. Yes, there is greenfield work to be done in crypto, but any developer who does not spend a large portion of their time fixing bugs is likely running buggy code

All systems WERE always built from scratch, originally. Nothing changes. Amen.

 

[jarryds]

Those with crypto experience only generally won't thrive in tradfi. Those with tradfi experience can do well in both worlds.

Banks will eventually build out crypto desks, just like any other asset class. Those with experience in both worlds will command a premium. But that's separate conversation.

I don't know how well I agree with this statement. The Fed has been very clear on it's stance on regulated banks and their involvement in crypto (see Silvergate and Signature). I can't imagine banks are getting enough motivation from their clients to start walking on egg shells.

 

[CharlieJ]

I don't know how well I agree with this statement. The Fed has been very clear on it's stance on regulated banks and their involvement in crypto (see Silvergate and Signature). I can't imagine banks are getting enough motivation from their clients to start walking on egg shells.

The key is 'eventually'. At some point it will start trading like a traditional asset, it'll be regulated, and the big banks will take over the game.

 

[jarryds]

The key is 'eventually'. At some point it will start trading like a traditional asset, it'll be regulated, and the big banks will take over the game.

Yeah I'm still gonna disagree on that. Unless regulators are really interested in making the crypto space usable, banks won't enter this arena. And why would they? What benefit is access to crypto providing that banks/clients/regulators are actually interested in? Small crypto shops and retail investors love crpyto for all the reasons institutional finance would hate it. I may be alone in this opinion, but I don't see much (if any) a future for crypto in institutionalized finance.