Footsie Falls as Chancellor Resigns, Former Investment Banker Now Heads Treasury – Trustnodes

Footsie Falls as Chancellor Resigns, Former Investment Banker Now Heads Treasury

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Rishi Sunak

FTSE 100 has fallen by 1.56% after the Chancellor of the Exchequer (the guy on the genesis block) suddenly resigned in the midst of a cabinet reshuffle.

“The PM said he had to fire all his special advisers and replace them with No 10 special advisers to make it one team. The chancellor said no self-respecting minister would accept those terms,” says the Guardian citing “sources.”

Rishi Sunak (pictured) now is the guy on the block and he happens to be an investor, working as an analyst at Goldman Sachs to then co-found his own investment company Theleme Partners.

In addition he was director at investment firm Catamaran Ventures owned by his father-in-law Indian billionaire businessman N. R. Narayana Murthy.

We couldn’t find anything related to bitcoin or blockchain concerning either Rishi Rish or Murthy or any of the related companies.

Rishi Rish however says he used to work in Silicon Valley, stating: “My time spent studying and working in Silicon Valley showed me how powerful technology can be in transforming our lives for the better.”

So he’s a techy, but it’s not clear what his views on crypto might be. However, Sajid Javid apparently resigned due to a clash with Dominic Cummings, the chief advisor to Boris Johnson.

“Imagine being able to short Grayling’s transport announcements, for example,” Cummings said in one of his many blogposts, with Grayling being a former minister.

That was in the context of prediction markets, “with people able to ‘short’ official delivery timetables.”

So he is clearly familiar with Augur and the ideas behind them, meaning hopefully the new government should be very friendly to this space.

We’ll get a hint next month during the first real budget since what now seems like forever.

That will probably be the most scrutinized budget since Osborne, so no pressure Rishi as long as you throw some money at blockchain digitization and research and development.

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