crypto-entrepreneur and investor Jenny Ta shares her insights on the cryptocurrency market and how to make smart investments in this fast-paced, ever-shifting landscape.
In recent years, cryptocurrency has been more innovative than any other industry. There have been many sectors that have emerged – NFT’s and decentralised finance (DeFi), for instance, were not even possible a few years back.
crypto-entrepreneurs are the driving force behind all of this innovation. Some are well-known around the world, such as Vitalik Buterin, the founder of Ethereum, and Sam Bankman-Fried from FTX who have both become some of the most successful people on the planet. Satoshi Nakamoto, the mysterious Satoshi Nakamoto, may still be around somewhere with 1,000,000 bitcoins still unaccounted for in their wallets.
Today, Jenny Ta is an entrepreneur. She hopes to make a mark in the industry. Her fascinating backstory is rich in innovation. She is no stranger to the world of starting businesses and now she finds herself in the wonderful world that is cryptocurrency.
Jenny Ta(JT): I’m a Wall Street veteran and a self-made multimillionaire. I also have three successful early ventures. Titan Securities was a full-service broker/dealer and investment bank firm that I founded and led until its acquisition in 2005. Before that, I co-founded Vantage Investments, a full-service broker-dealer, and investment banking company, which I grew up to a third billion dollars in assets.
You are a prolific entrepreneur. What made you want to create companies and why are you so good at it?
JT I’ve been a successful entrepreneur and want to continue doing it. Before I started building companies, my experience was as a Wall Street market maker and a manager at two investment banks. There were areas of tech that were problematic, and I realized that I could help solve those issues by starting my own company. Instead of meeting with startups seeking funding from investment banks, I started my own startup.
CJ: When was the first time you got into cryptography? Why?
JT I first started to explore crypto in 2015, when Bitcoin was less than a thousand bucks. My first tweet about Bitcoin was that the price would surpass its all-time high, and that fintech would explode. These two events happened the next year and I was hooked. As I discovered more about blockchain and the interconnectedness of the entire cryptocurrency ecosystem, I became a firm believer. As I have seen the space grow, I believe that Bitcoin and digital assets will soon be part of everyone’s portfolio. They can also take over traditional Wall Street-listed companies and eventually go global.
CJ Please explain how you got to your current role as CEO at GalaxE.io, HODL Assets.
JT I founded CoinLinked, my third company. It is a social commerce platform that allows for decentralized transactions. This was two months after the initial wave of the COVID-19 pandemic in the US. CoinLinked’s purpose was to enable people to purchase everyday supplies and to pay with crypto to reserve fiat for rent or other necessities. The company grew rapidly and had strong revenue by 2020. In 2021, I was invited by HODL Assets to one of their Twitter Spaces. There, I connected with the original founders of the company. I was able to connect with the original founders of HODL Assets’ Twitter Spaces. They already had an NFT aggregator platform, and wanted to add social features. However, I had the social platform and was looking at adding NFT functionality. After many discussions, an M&A was initiated. CoinLinked was purchased in August 2021. As Co-Founder, I was also appointed COO. I was approached by HODL Assets in June to become the CEO of GalaxE.io.
CJ: This was your first job shortly after the dramatic downturn in crypto markets. Do you find this price action alarming? Is it more difficult to manage a cryptocurrency project in a bear than in a bull?
JT I took over the CEO role in June 1st, after the sharp downturn in crypto markets. Because of the events of the crypto winter 2018-2020, I don’t worry about price movements. An experienced trader, I believe bear markets and crypto-winters are opportunities to purchase assets at low prices. The cryptocurrencies do not act as a hedge against traditional assets such as stocks and bonds. A bear can affect both. It is obvious that everything is simpler in a bullish market. If you are passionate and determined enough to manage a company in a bear market, you can still lead a crypto project. These are the challenges that I enjoy as a serial entrepreneur.
CJ Do you believe NFTs can bring back the volume and interest they were generating during the rally?
JT I believe that the market will rebound! NFTs and Web3 projects are just beginning. This is the best time to invest in NFTs. They can earn as much as 100 times on a single investment of one to two hundred dollars. The market is constantly changing, so it is up to anyone who wants to make a profit from NFTs. Individuals who have never purchased an NFT, those looking for long-term, value-based ways to accumulate NFT wealth and even those who don’t have the tech skills to spend hours researching the most popular NFTs.
CJ What would you tell budding entrepreneurs looking to start a business in crypto?
JT I would advise budding entrepreneurs to build while a bear is around, or a crypto bear in particular. Great idea! If it hasn’t been realized yet in the crypto space, that’s great. The crypto industry is still very young. It will produce many unicorns that could surpass conventional companies.
CJ: It is always interesting when trad-fi folks make the leap to the crypto side. Please give us a glimpse into your past on Wall Street.
My first investment banking company had fifty stockbrokers (stockbrokers), with nearly half a million assets under management. High-tech investments were always something that interested me. I was successful in trading calls and semiconductor stocks. I also put options against the stock. The transition from tradfi to DeFi was easy. Both sectors are subject to similar regulations by the SEC. The underlying technology, blockchains and smart contract, is also quite easy to use.
CJ: Are you interested in other areas of crypto? Do you have any other interests or are your sole focus on GalaxE?
JT While GalaxE consumes most of my time, I collaborate on many different projects. One of these is the inaugural Web 3 Expo convention, which will be held at the Wynn Las Vegas Hotel this October. As a partner, my role is to help plan the summit over three days. I will also be a featured speaker. I also help platform crypto, NFT and P2E games from various parts of the globe, especially the Asia-Pacific. Since I’m a Wall Street specialist, I also advise some international crypto companies that are going public in the US via a SPAC or reverse merge.