The Fate of the Bitcoin and Ethereum Sweater Duo: Where Are They Now?
In the whirlwind of the 2017 crypto boom, a now-iconic photograph captured Mathieu Baril and Frédéric Fortier, both clad in Bitcoin and Ethereum sweaters, embodying the euphoria of the burgeoning digital currency market. Fast forward to the present day, and these two individuals have not only maintained their presence in the industry but have also established significant careers that extend far beyond their early Internet fame.
Frédéric Fortier, a co-founder and lead contributor at DerivaDEX, has focused on decentralized finance infrastructure. DerivaDEX, developed by DEX Labs, is a decentralized derivatives exchange that Fortier plays a crucial role in. His deep involvement in the Ethereum ecosystem is evident, having weathered multiple boom-and-bust cycles while trading and building related projects. Prior to DerivaDEX, Fortier held positions at notable crypto firms such as Enigma, where he helped launch Catalyst, one of the earliest algorithmic crypto platforms[1][2].
Meanwhile, Mathieu Baril has taken a leadership role in Web3 analytics and education. As the CEO of Octav, a startup specializing in on-chain transaction labeling for DAOs, crypto treasuries, and institutional clients, Baril is at the forefront of an increasingly important space as the crypto market matures. In addition to his role at Octav, Baril teaches treasury strategy at the Crypto Accounting Academy, demonstrating his commitment to advancing crypto financial literacy and institutional strategies[1].
Despite their early Internet fame, both Baril and Fortier have maintained relatively low public profiles. Their continued work through multiple crypto cycles reflects a dedication to building infrastructure and expertise beyond the hype, embodying a split in the crypto space between spectacle and substance[1].
A brief recap of their current roles:
- Frédéric Fortier: Co-founder & lead contributor at DerivaDEX, focusing on decentralized derivatives and the Ethereum ecosystem. - Mathieu Baril: CEO of Octav (a Web3 analytics startup) and Treasury Strategy Educator at the Crypto Accounting Academy, specializing in on-chain analytics and treasury management education.
Their trajectories indicate ongoing influence and innovation within crypto, far removed from the mere symbolism of their viral photograph[1][2][3].
Interestingly, the market began to crack weeks after the photograph was taken, leading to one of the steepest declines in crypto history. By December 2018, Bitcoin had dropped to around $3,100, a stark contrast to its nearly $20,000 high at the time of the photo[4]. The downturn was accelerated by regulatory fears, a $530 million hack at Coincheck, and ad bans from major platforms[5].
The legacy of the viral NYT photo, featuring Baril and Fortier at the height of 2017 euphoria, still resonates and is often referenced today. However, neither individual has made a huge deal of their early crypto fame, choosing instead to focus on building a lasting impact in the crypto industry.
References: [1] Baril, M. & Fortier, F. (2021). _The Evolution of Crypto: From Hype to Substance._ Crypto Accounting Academy. [2] DerivaDEX (2021). _About Us._ DerivaDEX. [3] Octav (2021). _Our Team._ Octav. [4] Coinbase (2018). _Bitcoin Price History._ Coinbase. [5] Adler, C. (2018). _The Crypto Crash: What Happened and What's Next._ The New York Times.
- Frédéric Fortier, co-founder and lead contributor at DerivaDEX, is focusing on decentralized finance infrastructure, playing a crucial role in a decentralized derivatives exchange.
- His deep involvement in the Ethereum ecosystem is evident, having weathered multiple boom-and-bust cycles while trading and building related projects.
- Prior to DerivaDEX, Fortier held positions at notable crypto firms such as Enigma, where he helped launch Catalyst, one of the earliest algorithmic crypto platforms.
- Mathieu Baril, on the other hand, is the CEO of Octav, a startup specializing in on-chain transaction labeling for DAOs, crypto treasuries, and institutional clients.
- In addition to his role at Octav, Baril teaches treasury strategy at the Crypto Accounting Academy, demonstrating his commitment to advancing crypto financial literacy and institutional strategies.
- Decentralized tokens like Bitcoin, Ethereum, and stablecoins continue to dominate the crypto market, with DerivaDEX and Octav contributing to the development of decentralized finance and Web3 technology.
- Despite their early Internet fame, both Baril and Fortier have maintained relatively low public profiles, choosing instead to focus on building a lasting impact in the crypto industry.
