Investment bank Moelis & Company revealed on Monday that it is establishing a particular blockchain advising section to help businesses that work with blockchain technology. Founded in 2007, Moelis & Company is an independent investment bank committed to serving clients, businesses, governments, and financial sponsors. John Momtazee, a co-founder of Moelis, will serve as the leader of the new group called the Global Blockchain Group. According to a statement from Momtazee, the establishment of the blockchain team shows the firm’s dedication to offering advice in both “existing and new industries.” He said, “With more than 50 unicorns and several decacorns in the sector already and nearly $20 billion of capital raised for blockchain companies last year, blockchain technology is poised to be as transformative to the global business landscape.” Last Week’s Cryptocurrency Market Bounce The news on Monday comes after a significant cryptocurrency market bounce last week following a bumpy second trading quarter, which saw Bitcoin post its worst quarter of losses in 11 years. When the Terra ecosystem collapsed in May, it sent shockwaves across the cryptocurrency markets. A liquidity issue for cryptocurrency lenders and the demise of the hedge firm Three Arrows Capital also impacted prices in June. Momtazee stated that he is unfazed by this volatility and that the company believes that the use of blockchain technology has promising lon...
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