Blythe Masters, the CEO of distributed ledger technology provider Digital Asset Holdings has stepped down after three years running the company. The company announced Tuesday that Masters will remain a shareholder, strategic investor and member of the company’s board of directors but that she would vacate her position of chief executive for personal reasons.
In a note to employees sent earlier yesterday, Masters wrote:
“working as part of the DA family means the world to me, but I also work for my family’s future and I need to focus on this for a while.”
But who is Blythe Master and why so important that she stepping out of the crypto company?
Masters joined the bank JP Morgan Chase in 1991 after completing a number of internships there while still a student dating back to 1987. Responsible for credit derivative products at J.P. Morgan, Masters became a managing director at 28, the youngest woman to achieve that status in the firm’s history. She is widely credited with creating the modern credit default swap, a derivative used to manage credit exposure to underlying reference entities. Source Wikipedia
She was credited the invention of credit default swaps. She was a startup little young intern at JPMorgan. They put her in the group that sells credit default swaps and said she did invent credit default swaps but she was the image for promoting and spreading it throughout the system.
After the 2008 collapse, her job has been to clean up the mess they put her in charge of it. Then Blythe Masters was in charge of the silver market for JPMorgan Chase.
A full investigation would show the manipulation of how JPMorgan suppressed the price of Silver using the derivative markets while accumulating physical silver. An interesting article on Roadtoroota explains that in details
Do you remember an article we wrote recently about the 2 JPMorgan employees saying my superiors taught me how to manipulate the metals markets and their bosses knew about that too?
So maybe we have Jamie Dimon going down right after Blythe Masters.
Blythe leaving Digital Assets Group is a huge sign that looks like it’s an immediate walking out the door. Blythe Masters stepping down from the crypto company is great news for Cryptocurrencies. Also, it is a signal that the regulators are going after the market manipulation.
The destruction of Deutsche Bank is so huge for the system that nobody can survive and that is going to happen to the derivative holders.
Also, crypto exchanges are dealing with derivatives unless there is a blockchain transaction. It is a good practice to keep your coins outside the exchanges, so when regulators crack down or the system collapses you have access to your funds.
The dollar crisis that is expected to happen in the next 2 years according to Ray Dalio, might bring back the gold standard and could be a crypto standard too.
Do you think Blythe Masters stepping down from the crypto company is great news for Cryptocurrencies? Please post your opinion in the comments below.