Championing Diversity: The Golden Seeds Impact
A journey with Golden Seeds taught Irina Berkon the true value of diversity beyond mere tick-box exercises. It extends beyond gender to encapsulate different backgrounds, nationalities, and age groups - all vital elements in the success of a startup. Irina's exposure to this broad spectrum of diversity altered her perspective, pushing her to see beyond the conventional, often male-dominated, investment patterns. She discovered how diversity, particularly female-led teams, can inject dynamism into the business landscape. As Irina aptly puts it, "I learned a lot going through a few cycles with Golden Seeds... I really learned that diversity is very important. Diversity doesn’t have to be gender diversity... just people coming from different backgrounds and different points of view."
Leading With Compliance
Irina Berkon joined Metallicus after being called in by an auditor during a financial statement audit for the company. Initially skeptical about the role due to her background in public accounting and audits, she found Metallicus' ambitious vision to become a money service business compelling. She joined in 2020, during which she worked on building the Proton blockchain with features like human-readable names, no gas fees, and rapid transactions. Irina appreciates the user-friendly nature and compliance-focused approach of the blockchain, echoing her belief that crypto technology should be simple, safe, and compliant. After experiencing the abrupt closure of their company account at Bank of America, she cofounded FBBT Holdings with Marshall Hayner to open a bank that properly understood crypto businesses and their regulatory requirements. This journey allowed Irina to apply her expertise to create a secure environment for crypto-related businesses.
Mona and Irina discussed the challenges faced by blockchain companies, particularly in terms of banking and regulation. Irina aims to serve the "unbanked" — crypto and blockchain businesses. Her experience illustrates the complexity of operating within the boundaries of licenses and regulations that weren't designed for the crypto world. As CFO of a crypto firm, she maintains strict adherence to compliance with the help of a legal team and a dedicated compliance officer.
How does she stay compliant? “You hire lots of lawyers,” she said humorously.
She advises others in similar situations to surround themselves with experts, maintain robust compliance practices, and engage with regulators proactively. Even as some regulations may initially seem punitive, they have the potential to foster a healthier, more sustainable crypto ecosystem.
Weathering Unforeseen Challenges in the Crypto Environment
Irina highlights her daily challenges which are largely influenced by the volatile and unpredictable nature of the cryptocurrency landscape. Internally, her team fosters a culture of unwavering commitment and excellence. This strong foundation provides a sense of stability amidst the tumultuous crypto environment. However, despite their internal cohesion, they face many external factors that are out of their control. This includes sudden events like the abrupt closures of major banks and the potential risks introduced by their numerous partners. Moreover, Irina must also navigate the unpredictable US regulatory terrain which poses constant challenges.
About Irina Berkon
Irina is the Chief Financial Officer and Board Member of Metallicus.
In addition to her role at Metallicus, Irina is the cofounder and board director of FBBT Holdings, Inc and is a managing director of Golden Seeds, an angel investment fund that focuses on women founders.
