Former Goldman Sachs banker Chris Matta shocked his former company by doing something considered inconceivable: just days after being promoted to Vice-President, he quit.
After 6 grueling years working at Goldman, the 28-year-old had made Vice-President. Matta was on the fast track for more pay and status.
But Matta had other plans in mind.
After watching Bitcoin and other cryptocurrencies boom in 2017, Matta and two colleagues became intrigued and decided to create their own cryptocurrency-focused investment vehicle. in an Interview with CNBC, Matta said:
“It’s safe to say, you leave a good amount of money on the table walking away from Goldman. But I saw it as a calculated risk.”
That calculated risk actually meant that he was waving goodbye to his yearly bonus. He further explains:
“They called in the CEO of my organization, and he said, basically, ‘Are you crazy? Do you realize the risk you are taking here? You are giving up on your bonus!'”
While it sounds unconventional, the young man’s exit from Wall Street serves as an example of how the brightest and sharpest financial minds are leaving traditional financial institutions in favor of the new frontier that is cryptocurrencies.
In Matta’s cae, he and his partners and co-founders-Ali Hassan and Michael Kazley-actually spent their holiday vacation setting up their company, Crescent Crypto Asset Management, instead of catching up with some R&R. Explained Matta:
“In the crypto world, every month is like a year in the equities space. The amount of things that would change in that time, the number of funds that would come to market, it would just be a much more difficult landscape for us if we were trying to get things up and running in February.”
Despite rough goings in the first half of 2018 thus far, Matta and crew remain faithful that their new venture will work out. “It’s either going to zero, or it’s going magnitudes higher,” he told CNBC, adding:
“I don’t regret it at all. It’s been the most exciting few months of my life, honestly.”