Harsh bear market conditions are calling for advisory services and the Global Blockchain Group is here to give them.
Moelis&Co, New-York based global investment bank established in 2007, has gathered a group of experts to constitute a Global Blockchain Group.
According to the statement shared on July 25th, the main goal of this group is to give advisory services to any blockchain or crypto companies, which need guidance in making strategic decisions, fund growing, and “liability management solutions”.
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The Group will be coordinated by John Momtazee, who is Moelis&Co co-founder and global head of media investment management.
When talking about why Moelis&Co created such a group, Momtazee noted:
The establishment of the Global Blockchain Group demonstrates our commitment to meet our clients in the moment by providing senior-level counsel across both established and emerging industries.”
The Moelis&Co co-founder continues his ideas and compares the significance of blockchain technology to the “global businesses landscape” as the one of the Internet back in the 1990s.
Momtazee adds that despite the current bear market there are “huge long-term prospects” in this field.
The group will also include Lou Kerner, who will be taking the role of Senior Advisor to the Global Blockchain Group. Kerner was chosen to appoint this position as he has been working in the crypto field for over ten years. He has worked with cryptocurrencies, DeFi companies, and smart contracts.
Lou Kerner believes in the success of the Group and praises that Moelis’s contribution to the overall development of blockchain technology will be nevertheless significant. He adds to this idea by stating:
Our combined advisory capabilities, long-standing client relationships, and extensive blockchain expertise will help drive the adoption of this transformative technology.
At the beginning of July, Moelis&Co had already given advisory services to Voyager, leading to the suspension of its withdrawals.
It is worth noting that Voyager’s funds have been frozen since July 1st and the company has filed for chapter 11 bankruptcy rejecting any offers of help.