• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
Join Student Coin ICO
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
freedom from deutsche bank
Nexo

Crypto Researcher Glad He Left Deutsche Bank on Time

Anatol Antonovici by Anatol Antonovici
2 years ago
in News
0

Medio Demarco, the co-founder of crypto-oriented research firm Delphi Digital, feels relieved that he left Deutsche Bank on time. Recently, the German banking giant announced massive restructuring.


Demarco Was Prophetic by Turning to Crypto

While cryptocurrencies made their way to secure a place among financial markets, large banks didn’t hesitate to criticize them and minimize their potential. For instance, JPMorgan’s Jamie Dimon infamously called Bitcoin a fraud while UBS Global Wealth Management’s head Paul Donovan said that cryptos would never become currencies.

Deutsche Bank is no exception. Most of the top executives have questioned the potential of Bitcoin and the crypto space as a whole. However, Medio Demarco, former Deutsche Bank analyst, and associate at the Hedge Fund Credit Risk unit, was a big believer in digital assets and even left the bank to start his own company in the new industry.

He revealed via his Twitter profile that many co-workers at the German bank might have thought last year that he was taking too big of a risk with his decision to enter the crypto space. Nevertheless, it was Demarco who worried about his colleagues for taking the greater risk by staying at the bank.

Demarco’s fears were not in vain, as Deutsche Bank recently announced a massive overhaul that comes will about 18,000 job cuts.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

When I left Deutsche Bank last year I’m sure many of my co-workers thought I was taking too big of a risk going into crypto. I thought they were taking the greater risk by staying. https://t.co/Q2YxLkZIy3

— Medio Demarco (@mediodelphi) July 8, 2019

Now he’s working on the startup that he co-founded – New York-based Delphi Digital is a research firm that provides insights into Bitcoin, digital assets, and the distributed ledger technology (DLT).

Deutsche Bank Workers Are Leaving Their Office

Demarco’s remark pointed to a tweet by BitMEX Research, which reposted an article by Financial Times that discussed Deutsche’s job cuts. Interestingly, one of the men leaving the bank’s office in London was carrying a bag with the word “Bitcoins” imprinted on it.

On Sunday, Deutsche Bank confirmed that it was closing entire units of its trading businesses. In total, the bank aims to cut about 18,000 jobs. The staff from the equities division in Hong Kong and Singapore will be among the first to leave.

While Deutsche Bank had generated huge profits for years, especially before the global crisis in 2008, the bank couldn’t keep pace with American counterparts like JPMorgan and Goldman Sachs. Thus, it was forced to give up its investment banking units and refocus on its mainstream markets.

Considering the problems that Deutsche has faced during the last few years, many consider it hypocrisy to bash Bitcoin while facing huge fines.

Deutsche Bank, last 20yrs:

– $12+ billion in fines
– 35 offences
– Securities abuses
– Tax violations
– Investor protection violations
– Money laundering
– Accounting fraud
– Banking violation

They warn bitcoin is used by criminals, but it's actually our best tool against them.

— Rhythm (@Rhythmtrader) July 8, 2019

Don’t hesitate to share your opinions on Deutsche Bank’s job cuts! Will some of the executives follow in the footsteps of Demarco?


Images courtesy of Shutterstock, Twitter: @mediodelphi, @Rhythmtrader 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Anatol Antonovici

Anatol Antonovici

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.