By Lucas Williams
As each day passes, it looks like the crypto market is growing significantly. While many would say that it is growing significantly out of proportion, others believe that its pace is actually a lot slower than other types of financial markets in their prime. And as every day passes, more and more people are discovering the benefits that come with investing or just being part of the crypto market. The most recent example of these types of people is Chancellor Phillip Hammond.
Hammond has taken on a number of jobs both after and before his job at the treasury in 2019. Before becoming Chancellor of the Exchequer in 2016, he was the Foreign Secretary, and before that served as the defense secretary. And after he left his role in the treasury in 2019, he became an advisor to a number of firms. Some of his major jobs include working as an advisor for Nomura, Saudi Arabia’s finance minister, Bahrain’s finance minister, and oaknorth just to name a few.
In his most recent job, the ex-chancellor has chosen to work with a rather small startup called Copper.Co. It is a relatively small crypto startup, which has hired Lord Hammond effective immediately. While the news was sudden it was surprising for a completely different reason. Although the previous defense secretary has been a very vocal supporter of cryptocurrencies throughout their early years, no one could understand why he would work with a small startup. Given his experience in the field and his previous jobs, people were expecting him to work with much larger crypto based companies. With the experience that he has gathered, it is very obvious that he is possibly the most qualified person to work as an advisor for a crypto company.
By taking on over 14 different jobs after his leave from politics, he was one of the richest cabinet members ever, with his total fortune reaching an estimated £8.2 million. Of course, given his previous line of work, he has been the subject of much criticism. Many are criticizing the fact that he is using his connections in the government to help the many companies where he is working. While none have been able to prove this claim, he is currently undergoing investigation.
Seeing how they have made quite the controversial decision, Copper even broke their silence on the matter. In an official statement, they said that Hammond will help solidify the UK as a leader in digital assets. Hammond even responded back saying that Copper was a pioneer in the digital asset space, and that he will be looking forward to working with them.