From the Electronification of Markets to Crypto Brokerage w/ Stephen Ehrlich, co-founder of Voyager

TL;DR

Steve Ehrlich discusses his career path from accounting to finance and how he entered the crypto industry.

Transcript

steve great to get you on real vision oh thanks for having me appreciate being here look you've got a great story so i want to go back in time to get to where we are today start from the beginning how did you get in the finance industry and then we'll we'll end up with how the hell he got into critter and all of that story that goes with it but let... Read More

Key Insights

• 🖐️ Ehrlich's background in accounting and institutional brokerage laid the foundation for his journey into the finance and crypto industries.
• 😮 The electronification of markets in the late 1990s paved the way for the rise of electronic brokerages like E-Trade.
• 👻 Ehrlich's late adoption of crypto in 2016 allowed him to bring his expertise in market structure and user experience to the industry.
• 🖐️ The future of exchanges may see brokers playing a more significant role in helping customers navigate the complex crypto ecosystem.
• 💗 Retail adoption of crypto is growing steadily, with increased interest from RIAs and RIA groups in the spot market.
• 👶 Despite market fluctuations, Ehrlich's company is experiencing consistent growth in retail customers and net new assets.
• 😌 The challenge for RIAs lies in navigating the unregulated world of crypto spot markets within a regulated industry.

Questions & Answers

Q: How did Steve Ehrlich enter the finance industry?

Ehrlich started as an accounting major and worked for a startup in institutional brokerage, eventually selling the company to E-Trade in 1999.

Q: What was the market like when Ehrlich started in finance?

The market was still largely floor-based, with limited electronic trading. E-Trade was at the forefront of the electronic brokerage revolution.

Q: When did Ehrlich get into crypto?

Ehrlich got into crypto in 2016, after being introduced to it by a friend. His expertise in market structure and user experience led him to see an opportunity to bring something special to the industry.

Q: What are Ehrlich's plans for his crypto company?

Ehrlich plans to take his company public in Canada, with future plans to list on the TSX and NASDAQ. He aims to position his company as a bridge between exchanges and retail customers.

Summary & Key Takeaways

• Steve Ehrlich started his career as an accountant and later joined a startup in the institutional brokerage industry.

• He then sold the company to E-Trade in 1999, which marked the beginning of the electronification of markets.

• Ehrlich got into crypto in 2016, bringing his expertise in market structure and user experience to the industry.