The "Fidelity Mafia": Early Crypto Believers Who Reshaped Finance 🚀

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Fidelity Investments jumped into crypto when most wouldn't dare. Mining Bitcoin in 2014! While Wall Street giants laughed, Fidelity dug in. Literally. This was strange for an 80-year-old financial institution. But they did it anyway 🔍

From this unlikely beginning emerged what people now call the "Fidelity Mafia." Early employees scattered across the crypto world. They're everywhere now 💼

Bold Moves and Big Names 🌟

"Management took a huge step into crypto rather than approaching it with kid gloves on," says Alex Thorn. He's at Galaxy Digital now, heading research.

Juri Bulovic left after eight years. Went to Foundry. Runs mining operations there since 2021.

Matt Walsh co-founded Castle Island Ventures.

These are just a few. The crypto landscape seems filled with Fidelity veterans. They were there during the wild early days ⛓️

A CEO Who Got It 🔮

The vision came from the top. CEO Abby Johnson saw something different.

Remember JPMorgan's Jamie Dimon? Called Bitcoin "tulip bulbs." Predicted disaster.

Johnson went the other way. In 2017, she pushed for making Bitcoin more accessible to everyone. Kind of surprising from someone running a traditional investment giant.

Smart people noticed. They joined Fidelity because it wasn't afraid of the future 🌐

Almost Great, But Not Quite 📊

Fidelity spotted the trend early but couldn't fully capitalize. Missed chances haunt them. In 2014, Johnson wanted to buy $200,000 in mining equipment. Internal departments blocked it.

"They could have become a household name," Bulovic mentioned about Fidelity's potential in crypto trading. Meanwhile, Coinbase (born 2012) raced ahead.

The old-school image held them back. It's not entirely clear if they truly wanted to shed it 🏦

Still Matters Today 🔥

By 2025, Fidelity remains relevant in crypto. They backed EDX Markets. The exchange launched in 2023.

Not the dominant force they might have been. Their biggest contribution? People. The talent they developed.

The "Fidelity Mafia" keeps reshaping cryptocurrency's path. They mixed traditional finance knowledge with digital vision. Jumped in when Bitcoin seemed like a crazy experiment. That matters 🌕

Sometimes being early isn't enough. But being early and training the next generation? That leaves a mark 🚀

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