The FTX debacle obviously does not come at the right time for the promoters of the crypto scene… but the appetite for regulation is growing and consumer memory is shortening.
The Lydian Group of Gerald Lopez and Greg Fishman announces that he is participating in the launch of the “first ESG Crypto fund” with the help of Crosstower, regulated in the United States. It is certainly not the first, so many professionals have been following this idea for a few years, convinced that bitcoin and decentralized finance add a lot to the “S” and the “G”, by enabling easier access to the banking system and finances and ensuring for more transparent governance.
Ninepoint launched the first ESG crypto ETF in Canada in April 2021 with the idea of setting aside a portion of its earnings to offset the energy costs of bitcoin mining. Less than six months later, Modular Asset Management has done the same in Singapore, where it is regulated… and also Lightbulb, which had inspired its two founders.
We have seen how this industry, which has enormous potential to transform global finance, has been put in a dangerous state due to a lack of professionalism and transparency.
In the case of Gerard Lopez’s $400 million project (who also has his staunch support Mark Tluszcz next to him), the aim is to invest in companies with an environmental dimension (in the management of energy costs, taking into account the reduced prices of assets and the total cost of energy), social (for s ‘stay away’ from the greed of some players […] and putting people and the democratization of finance back at the center”) and governance (appropriate governance structure; checks and balances between related parties and traditional business expertise).
“We have seen how this industry, which has tremendous potential to transform global finance, has been put in a dangerous state by the lack of professionalism and transparency in the management of vast amounts of client assets,” said Gerard Lopez. “For the past 25 years, we have always supported the deployment of technology with experienced real-life management. We have generated billions of dollars in return for our stakeholders while building strong businesses that perform over time. The choice of the people who run Crosstower and the experience of our board members are all necessary for the group to be successful in helping this industry regain its required strength and reliability.”
Crosstower buys Bequant
“It’s a critical moment and an exciting one,” added his partner, Greg Fishman. “Poor companies are being cleaned up, paving the way for promising tech stacks, pure web3.0 and decentralized virtual worlds. By uniting Crosstower and Bequant, we create an organization built on security, transparency and trust. In the next market cycle, the entire industry must focus on building for people.”
Because at the same time the exchange cross tower announced the acquisition of Bequant, a regulated platform for institutional trading and prime brokerage in Malta. This acquisition “strengthens Crosstower’s presence in the institutional market with 600 professional clients generating more than $400 billion in annual revenue,” the press release said.