​Crypto Prime Brokerage Enlists Former Wells Fargo, JPMorgan E | Crypto Shake

​Crypto Prime Brokerage Enlists Former Wells Fargo, JPMorgan Exec

A traditional finance (TradFi) veteran with more than two decades of experience at bulge-bracket banks JPMorgan and Wells Fargo is jumping into crypto.

Digital assets prime brokerage Floating Point Group has tapped Peter Eliades — who last headed electronic trading sales for Wells Fargo — to oversee business development in the US and throughout Asia Pacific.

Eliades told Blockworks that the influence of cryptocurrency across “traditional media, sports, sponsorship [and] gaming” has become “increasingly evident.” The growing influence of digital assets in traditional spheres “by extension woke [Eliades] to the possibility of exploring something new and innovative,” he said.

The executive’s focus on crypto stemmed from investing personal capital in a bid to “learn more about the benefits of digital markets and their pain points.”

Eliades was a vice president at Lehman Brothers in 2001, before becoming a managing director at Bear Stearns & Co. about four years later. He went on to work for JPMorgan as head of Americas trading before joining Wells Fargo, and now looks to make a splash in crypto.