As crypto-enthusiasts, we’re always on the hunt for where the next big player will position themselves, and today’s news from the crypto-focused asset manager, Hashdex, definitely caused a few ripples. Announcing on July 20, Hashdex Hashdex welcomed Brian Brooks, who acted as Comptroller of the Currency under the United States government, onto their board of directors. Don’t worry if the name rings a bell but you can’t quite place it as Brooks has quite the noteworthy resumé, serving as Coinbase’s chief legal officer from 2018 to 2020, the CEO of Binance.US, and the CEO of Bitfury.
Brooks’ colorful experience in both financial regulation and the crypto industry is what attracted Hashdex co-founder and CEO Marcelo Sampaio. Despite his fairly short tenure as CEO of Binance.US in 2021, Brooks reportedly left due to “differences over strategic direction”, after taking over from former CEO Catherine Coley. At the time of his departure, a June filing to the Securities and Exchange Commission alleged Binance CEO Changpeng Zhao had been somewhat less than accommodating in allowing Brooks the control he needed to helm the U.S. exchange.
However, this eddy of controversy does not seem to have deterred Hashdex. Quite the opposite. With Brooks now employed as a managing partner at venture capital firm Valor Capital Group – which has backed various crypto companies through funding rounds – his reputation goes before him.
Speaking of his new role, Brooks was bullish about the future of the industry, saying “Crypto assets are changing the economics of nearly every industry across the globe, allowing individuals to have an ownership stake in the networks in which they participate.” As strategic advisor, Brooks looks set to help Hashdex bridge the divide between the traditional financial markets and the fast-paced, ever-evolving crypto economy.
This perspective is what keeps the crypto industry exciting, albeit skeptical. Heavyweight players like Brooks entering the fray not only validate crypto’s potential, but serve as a reminder of the wide-ranging ideas and possibilities for its application. But let’s keep perspective. Not all that glitters is crypto gold, as Brooks’ former tenure at Binance reminds us. Still, his experience and enthusiasm will be an asset – in whatever form – to Hashdex.
Source: Cointelegraph
