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Unlocking potentially trillions of dollars of assets into a more efficient architecture. Who is Magnet Capital? Magnet Capital is a specialist digital asset investment manager. At our core, we are long-term, thesis driven investors in the crypto ecosystem.
We believe that digital asset innovation will fundamentally disrupt major, global industries, and create outsized investment opportunities for early participants. Magnet has developed a variety of investment products to provide sophisticated investors opportunities to build exposure to digital assets in a way that meets their investment objectives.
Experience 5-year track record of institutional digital asset funds management and protocol investment management inc. Not only were the assets unrecoverable in some cases, most were simply gone. If Cotten sounds like a crypto Bernie Madoff, well, he was.
Three top staff departed the company, two owing fines in the million-dollar range. The aftermath of QuadrigaCX stoked newfound interest in regulating the sector. Ergo, crypto exchanges need to be registered. But there are also all these proposals from the crypto industry, from venture capital firms, for bespoke regulatory regimes. Not everyone is willing to play ball in Canada, either. Earlier this year, the CSA reaffirmed that crypto-trading platforms in Canada would need to apply for registration and regulation.
It showed, I think, the strength of what the [Canadian regulators] designed. What does this all mean for custody? Simple: any crypto-trading platform in Canada now has to either become a qualified custodian or use an external one that meets certain requirements.
There are three paths to that destination: become a bank, a trust company or an investment dealer and member of IIROC. Brane has chosen the trust route, as has one of its most direct Canadian competitors, Tetra Trust, which received its trust licence in July. That still means a regulatory gauntlet, parsing operational and business plans, ensuring adherence to auditing standards and guaranteeing acquiescence to regular examination.
For crypto custodians, it also means ensuring secure cold-storage needs will be met. Same with Airbnb. So, I thought this was an exciting place for me to be. In his first role after earning his CPA designation, from to , Dwight was CFO of a company called Bayshore Capital, a private equity firm that brought to market a slew of tech companies. In fact, Dwight hopes it will partly be the banks themselves.
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