Former JPMorgan, Barclays explains why crypto jobs are attractive even in a bear market

Former veterans of traditional finance start crypto careers at crypto ETF issuer 21Shares despite bear market. Interview

Despite the continued decline of the cryptocurrency market and associated forced layoffs at major crypto companies, a career in crypto is not becoming less attractive for many traditional financial executives.

European crypto exchange-traded fund (ETF) provider 21Shares on Wednesday announced three major hires to expand its presence in countries including France, Germany and the United Arab Emirates.

Marina Baudéan, newly appointed head of 21Shares for France, Belgium and Luxembourg, begins her career in crypto after working for more than 15 years at the British universal bank Barclays.

Baudéan is convinced that crypto is “all about the next generation of technology,” and is here to stay despite market fluctuations or other issues. Having witnessed many changes in technology throughout her career, she drew parallels between cryptography and the beginnings of digital commerce, stating:

"I started my career in electronic fixed income trading in 2000, when traders told me they would never trade electronically. Over twenty years later, this market is now very electronic."

“Moving from traditional finance to crypto was a natural progression for me,” Baudéan said in an interview with Cointelegraph, adding that the growth and momentum around crypto prompted her to move into cryptography.

Oliver Schäfer, 21Shares' new head of Germany, has also joined the crypto ETF company with a strong background in traditional finance, bringing decades of experience at large financial firms. Prior to getting into crypto, Schäfer spent more than 15 years at US investment bank JPMorgan.

“I believe in the long-term opportunity of crypto – the asset class is growing and in its infancy, so I focus on the long-term opportunity versus conditions of the market in the short term," Schäfer said, adding that it's an "exciting time to be in crypto," Schäfer noted that he first invested in crypto in 2020, ultimately becoming more interested to technology and industry developments.

Despite