Traditional Finance Veteran Moves to Crypto Market! Bridgewater CFO Joins NYDIG to Drive Mainstream Adoption of Bitcoin

NYDIG has announced the appointment of John Dalby, the Chief Financial Officer of Bridgewater Associates, the world's largest hedge fund, as its new CFO.

Chief Financial Officer from Bridgewater Associates

According to a press release by NYDIG, in preparation for future operations, NYDIG has appointed John Dalby, the Chief Financial Officer of the world's largest hedge fund, Bridgewater Associates, as their new CFO. Prior to his role at Bridgewater, John Dalby has also served as CFO at global investment & technology firm DE Shaw Renewables and UBS Americas, bringing with him extensive experience in the traditional finance sector. Dalby mentioned in the press release:

"The growth of NYDIG has been incredible, witnessing more and more industries understanding the potential of Bitcoin every day, and more customers seeking secure access to Bitcoin. Personally, I align with NYDIG's vision that Bitcoin can empower everyone economically. I am eager to contribute my part in helping NYDIG provide innovative Bitcoin solutions to institutions and individuals."

Rapidly Growing Institutional Solutions

NYDIG, a subsidiary of the well-known US asset management firm Stone Ridge, specializes in providing Bitcoin investment and technology solutions for insurance companies, banks, corporations, institutions, and high-net-worth clients. Due to the rapid development of the cryptocurrency market, the company has seen significant growth in its business scale in recent years, with founder and executive chairman Ross Stevens stating that the company's Bitcoin asset value is expected to grow by 316% in the coming year. Ross Stevens mentioned at the World.Now summit hosted by MicroStrategy in February:

"A year ago, we had only 25 institutional clients, and now we have 280, which is our current business capacity. Now, including what we own and what is held in custody for institutions, we have over $6 billion (at the time value) in Bitcoin. By the end of the year, Michael and I believe we will have over $25 billion in Bitcoin."

On the other hand, NYDIG also raised over $200 million in additional capital from strategic partners in March this year, including Stone Ridge Holdings Group, investment bank Morgan Stanley, insurance company MassMutual, and diversified global insurance company Liberty Mutual.