Former White House chief of staff for President Barack Obama, Rahm Emanuel, takes on new role as partner at cryptocurrency company Forteus.
Former Obama and Clinton Official Set to Bolster U.S. Crypto Industry
Bill Daley, a prominent figure in both the financial and political landscapes, has announced his entry into the digital asset sector. He is set to take on a key role at crypto investment firm Numeus Group's Forteus management division, according to reports from Bloomberg.
Daley, who served as Chief of Staff to President Barack Obama and as Secretary of Commerce under President Bill Clinton, will work within Forteus, the asset-management arm of Numeus Group. His primary focus will be to attract big-time investors as the industry gains momentum under the administration of President Donald Trump, which is pushing for the U.S. to become a global crypto hub.
Numeus Group, founded by Nobel Gulati, a former Two Sigma alum, manages over $130 million in assets and maintains offices in Switzerland, New York, London, and Mauritius. In a statement to Bloomberg, Daley voiced his optimism about the renewed regulatory progress for the crypto industry in the U.S.
Meanwhile, the crypto industry is currently witnessing significant regulatory developments in the U.S., aiming to clarify and strengthen oversight. Notable movements include the advancement of the GENIUS Act by the Senate, the introduction of the CLARITY Act by U.S. lawmakers, the reaffirmation of banking engagement in crypto activities by the Office of the Commodity Controller (OCC), and the issuance of new guidance on crypto staking by the Securities and Exchange Commission (SEC). These developments are expected to foster a more stable and predictable investment environment for the crypto sector.
Last year, Forteus partnered with crypto exchange OKX and custodian Komainu to address two persistent hurdles for institutional players in the crypto markets: security concerns and trading flexibility. This arrangement allows the asset manager to execute trades on OKX's platform around the clock while client assets remain securely stored in Komainu's cold storage. This solution addresses the industry's longstanding either-or proposition for institutional investors.
As the U.S. crypto industry continues to evolve, the involvement of prominent figures such as Bill Daley can significantly shape policies and foster innovation. The emerging regulatory frameworks are expected to pave the way for more institutional investment and innovation in the digital asset sector.
- Bill Daley, with a background in both politics and finance, will be leveraging his expertise in the crypto industry by taking on a key role at Numeus Group's Forteus management division.
- Daley's primary focus within Forteus will be to lure significant investors into the sector, as the U.S. administration under President Donald Trump seeks to establish the country as a global crypto hub.
- The crypto industry is experiencing significant regulatory progress in the U.S., with developments such as the advancement of the GENIUS Act, the introduction of the CLARITY Act, and the reaffirmation of banking engagement in crypto activities by the Office of the Commodity Controller (OCC), all aiming to foster a more stable and predictable investment environment.
- Last year, Forteus, a division of Numeus Group, partnered with crypto exchange OKX and custodian Komainu, providing a solution that addresses the industry's longstanding either-or proposition for institutional investors by offering secure cold storage and around-the-clock trading flexibility on OKX's platform.
