Yassine Elmandjra, who played a pivotal role in shaping Ark Invest’s digital assets sector, has officially announced he is leaving. This move concludes a nearly seven-year adventure during which he emerged as a prominent figure in the crypto and blockchain industries.
In a recent social media post on X, Elmandjra expressed his appreciation towards Cathie Wood, the founder of Ark Investments, and her team, acknowledging their collaborative journey. Yet, he remains tight-lipped about his future plans, causing ripples of anticipation in the financial community.
Elmandjra Built the Ark Invest Crypto Legacy
Prior to joining Ark Invest in 2018, Elmandjra sharpened his analytical abilities at Arena Investors and subsequently at Rembrandt Venture Partners. During this time, his primary focus was on developing unique investment approaches at both companies.
Today is my last day at ARK. What an incredible journey the last 6.5 years have been.
I am so grateful to Cathie Wood and the ARK Invest team for the incredible journeys and cherished moments we experienced together.
Excited for what’s next!
â Yassine Elmandjra (@yassine_elman) January 7, 2025
At Ark Invest, he made a name for himself and played a significant role in developing the company’s cryptocurrency approach. He often appeared at industry conferences and was invited on well-known blockchain podcasts. Cathie Wood, founder of Ark Invest, praised his work, labeling him as a “remarkably intelligent individual.
She commended him for significantly contributing to the formation of a top-tier cryptocurrency team within the industry. Since it began, Ark Invest has been a pioneer in investments related to groundbreaking technologies. The company was the initial public fund manager to invest in Bitcoin back in 2015.
Previously, Chris Burniske, the founding cryptocurrency expert at Ark, paved the way by establishing their crypto strategy and directing their early investments in Bitcoin. Subsequently, under the leadership of Elmandjra, Ark broadened its involvement in the cryptocurrency world, introducing Exchange Traded Funds (ETFs) for Ethereum and Bitcoin.
He strongly supports digital assets as a key element for finance’s future development. Cathie Wood’s recent daring forecasts, like Bitcoin reaching $1.5 million by 2030, are reflective of the company’s perspective. Nevertheless, Wood has expressed worries that the U.S. might lose its advantage in the cryptocurrency market.
She indicated that the absence of clear regulations has prompted expertise and creativity to move abroad. Yet, she anticipates a more favorable regulatory landscape following a shift in leadership at the U.S. Securities and Exchange Commission (SEC).
Broader Industry Trend
Yassine Elmandjra’s leaving Ark Invest coincides with a significant pattern of influential departures within the crypto and blockchain field. Notable figures in the industry have been stepping down from their roles, suggesting possible changes in the regulatory and operational terrain of digital assets in the U.S.
It’s been announced that Gary Gensler, who serves as the head of the Securities and Exchange Commission (SEC), plans to step down later this month. Noted for his tough stance on regulating cryptocurrencies, Gensler’s resignation may bring about changes in how these digital assets are controlled.
Michael Barr, the second-in-command at the Federal Reserve for supervisory matters, has chosen to step down, with his departure set for February 2025. Barr’s views on cryptocurrency banking have been met with criticism, as some proponents argue that he has been an obstacle to progress and innovation within this field.
On January 20, 2025, Rostin Behnam, who is currently leading the U.S. Commodity Futures Trading Commission (CFTC), will step down from his position. This transition signifies a substantial change in leadership as the newly elected president assumes office later this month.
Experts predict that the arrival of the Donald Trump administration might lessen certain regulatory burdens in the crypto sector, creating a friendlier atmosphere for blockchain initiatives and investments in digital assets.
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2025-01-08 15:09