Cryptocurrency businesses can't stay away from South Florida
BlockTower Capital, an investment firm focused on cryptocurrency and blockchain technology, moved its headquarters and entire team to Brickell's Financial District, where it plans to scale. The New York City-based company is the latest cryptocurrency venture to relocate to the Magic City, already the home of ventures such as crypto exchanges eToro and Blockchain.com, and venture capital firm Borderless Capital.
"It's a special opportunity to base our firm in a place that so uniquely combines the best of the financial investment community and the tech innovation community," BlockTower CEO Matthew Goetz said in a statement.
Goetz announced the relocation in a joint press conference with Miami Mayor Francis Suarez, a tech industry advocate who aims to transform the city into a global cryptocurrency hub. Those factors, along with the city's relaxed regulatory environment for businesses, make it an attractive location for BlockTower Capital, Goetz said.
The relocation comes a week after BlockTower Capital acquired rival blockchain investment company Gamma Point Capital. The financial terms of the transaction were not disclosed.
The Miami Downtown Development Authority worked with BlockTower Capital to identify potential office locations.The company did not specify where in Brickell its new headquarters is located. A representative did not immediately respond to a request for comment.
According to the DDA, BlockTower plans to add 25 new hires to its Brickell office. The firm aims to fill engineering, data science, investing, risk management, marketing and trading roles.
“Anytime a new-to-market company makes the move to downtown Miami with plans to create high-wage jobs, that's a win for our city and the diversification of our economy," said Phillipe Houdard, a Miami DDA board member and co-founder of Pipeline Workspaces.
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