Jackie Reses is the Chair and CEO of Lead Bank. She explains how Lead Bank assesses risk and onboards compliant crypto firms de-banked during the crypto winter.
“There are some components for us as a bank that are also interesting because we understand how to assess risk in the crypto market, and we have been able to onboard those crypto companies that are super high quality companies that are getting unbanked by those in the banking value chain that don't understand how to assess a company that is strong, highly compliant, operates with a high level of integrity, and we have benefited out of the de-risking in the market. And so, you know, we have been a net beneficiary of the scrutiny in crypto.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
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More from Jackie Reses
Opinion
Reses: No Current Crypto Use Case Has Proven Market Longevity
“I don't think we're there yet on any use case, frankly. That I think will have longevity in the market, but I do think the underlying technology is super important to experiment with and to explore new ways of building financial rails”
Jackie ResesMar 31, 2023▶ 44:57Jackie Reses: The Most Powerful Woman in Finance; Making $50BN for Yahoo on Alibaba | E996 · 20VC with Harry Stebbings
Opinion
Reses: Super Apps Are a Myth Except for Outliers Like Cash App
“And so, I don't see a broad market for super apps. I think there are a few players out there who have shown that they could build multiple use cases around their product. Again, I got to go back to Square because I know it so well. Cash App is, to me, the most…”
Jackie ResesMar 31, 2023▶ 57:35Jackie Reses: The Most Powerful Woman in Finance; Making $50BN for Yahoo on Alibaba | E996 · 20VC with Harry Stebbings
Insight
Reses: Raw Intelligence and Grit Beat Domain Knowledge for Novel Products
“I would rather focus on things like raw intelligence, judgment, curiosity, grit, ability to manage ambiguity, rather than looking for things like domain knowledge or operators with prior scale experience, you know, that's another big mistake where you assume b…”
Jackie ResesMar 31, 2023▶ 13:18Jackie Reses: The Most Powerful Woman in Finance; Making $50BN for Yahoo on Alibaba | E996 · 20VC with Harry Stebbings
AssertionSupported
Reses: Yahoo Earned $50 Billion Through Renegotiated Alibaba Deal
“It probably generated fifty billion dollars worth of economics to Yahoo shareholders”
Jackie ResesMar 31, 2023▶ 25:21Jackie Reses: The Most Powerful Woman in Finance; Making $50BN for Yahoo on Alibaba | E996 · 20VC with Harry Stebbings
PredictionNot checkable as stated
Reses: Next Decade of Fintech Winners Will Focus on Expense Management
“And so, I see the next 10 years of interesting companies being developed around expenses, expense management, and then infrastructure as the second component.”
Jackie ResesMar 31, 2023▶ 32:50Jackie Reses: The Most Powerful Woman in Finance; Making $50BN for Yahoo on Alibaba | E996 · 20VC with Harry Stebbings
PredictionNot checkable as stated
Reses: Feature-Based Consumer Fintechs Will Disappear Over Time
“And so I do think there are many consumer fintechs where I just don't see the differentiation in the product to truly stand the time or their features. They're not companies. And they should be integrated into other products that can help build LTV. Cause I do…”
Jackie ResesMar 31, 2023▶ 54:27Jackie Reses: The Most Powerful Woman in Finance; Making $50BN for Yahoo on Alibaba | E996 · 20VC with Harry Stebbings
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