A major investment bank known as Moelis & Co. has launched a new initiative known as the Global Blockchain Group with the intention of advising blockchain companies on how to increase cryptocurrency acceptability by utilizing the advisory abilities they already possess. It has been decided that John Momtazee, who was a co-founder of Moelis & Co., would be in charge of leading the project. The long-term investor in the firm and founder of CryptoOracle Collective, Lou Kerner, has been engaged to serve in the role of senior advisor for the Group.
According to Kerner, “The emergence of Moelis as a key counsel in this sector is crucial for the long-term future of blockchain technology.” Moelis is an advisory firm that specializes in blockchain technology. The adoption of this game-changing technology will be sped up thanks to our synergistic combination of consulting expertise, considerable client relationships, and complete knowledge of blockchain technology.
Moelis & Co.’s existing clients that are interested in the technology will be the first group that the Global Blockchain Group will collaborate with when it begins its work. Moelis & Company provides organizations in 21 different locations across the globe with strategic consulting services. According to an interview that Momtazee gave to Bloomberg News, in addition to the business’s founders, thirty percent of the staff members at the company have crypto wallets, with juniors making up the bulk of this percentage.
Moelis & Company is of the opinion that the atmosphere for doing business is significantly influenced by technological investment. In this sense, the company acknowledges both the huge potential of cryptocurrency and the enormity of the advisory effect it has. According to a statement made by Momtazee in a press release that was published on the 25th of July, over 50 unicorns have been created, and about $20 billion in funding was received by blockchain firms in 2017. This data alone is sufficient to illustrate the potential of this industry. It was brought to his attention that the blockchain technology solves several problems, despite the fact that its revolution is still in its infancy.
The co-founder of Moelis & Company voiced their optimism toward the sector and dismissed the dismal sentiment that was brought on by the bear market. According to what was published by Bloomberg, Moelis Momtazee indicated in an interview that the economy in the United States is in poor shape.
We are grateful that you responded so quickly. When there is a challenge there, it looks more genuine to say, “Here we are, prepared to help,” yet when there is no challenge present, it sounds less real. Every technology that disrupts the status quo will demonstrate volatility.
Moelis has previously served as an advisor to firms involved in cryptocurrencies, such as Voyager Digital, which was forced to file for bankruptcy as a direct result of the collapse of Three Arrows Capital. Momtazee drew parallels between the transformative power of bitcoin and the rise of the Internet in the late 1990s. He compared blockchain to the world wide web and said that both have long-term potential, making it imperative that appropriate direction be provided.
On the other hand, Moelis forecasted that the cryptocurrency industry would continue to grow and that businesses would continue to participate in increasingly significant transactions. According to him, the present agreements are not “big,” and they are comparable to the early days of the internet, when businesses struck little arrangements. Moelis forecasted that in the future, the amount of market capitalization growth and deal expansion will be accompanied by an increase in the number of mergers and acquisitions deals.
