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Blythe Masters To Keep Playing It Safe With New Friends

The dowager countess of credit default swaps is making moves to grow her new Bitcoin venture.

After an unblemished and virtually stress-free ride running commodities at JP Morgan, Blythe Masters decided to put down stakes in a business sector that would almost certainly keep her under the radar of most regulators.

Blythe Masters, who until last year was the head of JPMorgan’s giant commodities unit, is joining Digital Asset Holdings, a Bitcoin-related start-up that is looking to use Bitcoin’s underlying technology to streamline financial transactions.

And now she's staffing up, surely looking for a few compliance superstars, or maybe financial visionaries to help her build credit default swaps on the block chain.

The former JPMorgan executive — who left the bank last year amid a government inquiry into the commodities division she once helmed — hired Beth Shah, an editor at an industry magazine, to run business development at her new Bitcoin business.

A former journalist? Well, that's certainly one way to go, and considering that Shah authored a 2,355-word profile on Masters, she's clearly familiar with telling the Tale of Blythe.

But judging how things have gone for Bitcoin entrepreneurs - what with the Mt. Gox and the prison terms - it might be a smart move for Masters to make her next hire in a legal capacity.

That said, Blythe has never given us any reason to doubt her in the past.

Ex-JPMorgan exec staffing up new Bitcoin business [NY Post]


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