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Bankers ditch fat salaries to chase digital currency riches

Growing cohort of banking professionals are instead applying talents toward buying cryptocurrency

Lulu Yilun Chen & Camila Russo | Bloomberg 

Richard Liu gave up a seven-figure salary this month to get into one of the hottest financial instruments around right now: initial coin offerings. The former China Renaissance deal-maker has since backed a clutch of cryptocoin sales that have raised millions — sometimes in seconds — often without a single product. From Hong Kong and Beijing to London, accomplished financiers are abandoning lucrative careers to plunge into the murky world of ICOs, a way to amass quick money by selling digital tokens to investors sans banks or regulators. Cut out of the action, a growing ...

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First Published: Thu, July 27 2017. 01:18 IST