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EY Blockchain Whiz Quits Crypto, Says Adoption Not in Bitcoin’s Forecast

Samantha Chang
A blockchain executive with Ernst and Young is exiting the crypto industry, citing concerns that mass adoption of bitcoin will take longer than he thought. | Source: Shutterstock

By CCN: The ruthless bitcoin bear market of 2018 has claimed numerous victims, including many crypto startups and executives. The latest is former EY blockchain leader Angus Champion de Crespigny, who’s leaving the industry.

Champion de Crespigny made the revelation on Twitter, where he insists that he’s still bullish on bitcoin. However, he’s discouraged by how long he believes it will take for mass adoption, and doesn’t want to wait around.

As recently as November 2019, Angus was touting blockchain and cryptocurrencies at a conference (video below).

Champion: Institutions are Dragging Their Feet

Champion de Crespigny worked for 11 years at Big Four accounting firm Ernest and Young. He spent the last couple of years focused on blockchain. In August 2018, Angus left EY to focus on other projects amid growing disillusionment with blockchain.

Champion de Crespigny explained his reasons for leaving the crypto industry altogether in an April 19 Twitter thread:

“I am no longer working full-time in the bitcoin/cryptocurrency industry, and have taken a role outside it. I’ve had a number of people ask why, or seem surprised, so I thought I’d lay out my rationale in case it is of interest to others.”

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