The Wall Street saying is “follow the smart money.”
So, what does it mean that Blythe Masters, the highest ranking Wall Street executive who left JP Morgan in 2015 to become the Chief Executive Office of blockchain startup Digital Asset Holdings, is leaving the company?
Of course, the published excuse is “personal reasons” and she will continue as a board member and stockholder.
But, with Bitcoin tracing new lows, and the lack of any significant market acceptance of the high flying promises of blockchain, perhaps the company did not attain profitability fast enough?
DAH has raised $107 million from VC’s and Wall Street (including Goldman Sachs).
You can only stay so long until the chickens come home to roost.