Ray Dalio’s Bridgewater CFO leaves to work on Bitcoin full-time
Traditional finance veteran John Dalby will help New York Digital Investment Group "to bring Bitcoin safely to everyone."
John Dalby, now-former chief financial officer at investment company Bridgewater Associates, has been appointed as the CFO of Bitcoin (BTC) financial services firm New York Digital Investment Group (NYDIG).
“Working on Bitcoin is increasingly what many of the best and brightest employees seek—including industry leaders like John—and NYDIG is uniquely positioned to offer them the platform, resources, and culture to shine, in pursuit of our collective mission to bring Bitcoin safely to everyone,” said Robert Gutmann, co-founder and CEO of NYDIG, in the announcement published on Friday.
“Economic empowerment for all”
Before he joined Bridgewater in September 2018, Dalby served as the CFO and COO at D.E. Shaw Renewables Investments. Prior to that, he worked at Swiss multinational investment bank and financial services company UBS for over 20 years, most recently holding the role of CFO of UBS Americas.
In its turn, NYDIG is a Bitcoin financial services-focused subsidiary of $10 billion investments giant Stone Ridge Asset Management. Additionally, NYDIG has recently raised over $300 million in funding from companies such as Massachusetts Mutual Life Insurance and Liberty Mutual. Dalby noted:
“Every day, more industries come to understand Bitcoin’s potential and more clients seek ways to safely access it. Personally, I share NYDIG’s vision for Bitcoin’s ability to propel economic empowerment for all. I eagerly look forward to doing my part to help NYDIG deliver innovative Bitcoin solutions to institutions and individuals.”
Connecting banks to Bitcoin
As CryptoSlate reported, NYDIG itself has recently partnered with fintech company Fidelity National Information Services to help numerous U.S. banks add support for Bitcoin.
According to NYDIG’s head of banking Patrick Sells, “hundreds” of banks are already on board with the firm’s Bitcoin plans and want to offer their clients the ability to buy, sell, invest, and trade BTC.
“What we’re doing is making it simple for everyday Americans and corporations to be able to buy Bitcoin through their existing bank relationships. If I’m using my mobile application to do all of my banking, now I have the ability to buy, sell and hold Bitcoin,” Sells concluded.