Finance Magnates has learned that NewsBTC, a news service providing daily news for crypto traders, has on-boarded Samuel Rae as its new CEO. Mr. Rae steps into the role with immediate effect, replacing Jonathan Millet.

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UK born Rae (30) began his career in the forex industry as a trader. He also worked as a writer and analyst for several news outlets covering the forex industry, such as Investing.com, FXpips, Forexminute and DailyFX. He is also the author of a book called “Diary of a Currency Trader”.

During the last few years, Mr. Rae shifted to crypto and gradually left the forex space. Mr. Rae, who currently lives in Barcelona, joined NewsBTC from the day it was acquired by its current owner in 2013 and worked there ever since (excluding a brief period when he helped crypto websites to connect with ad buyers). His most recent role in the company was as its VP Business Development.

Few marketing channels

In an exclusive statement to Finance Magnates, Mr. Rae commented: “I’m excited to take the site to the next level. We have an incredibly strong team of writers and editors — they are super talented analysts, developers, crypto enthusiasts that know the space inside out. So we’re looking to leverage that team to the max.”

Mr. Rae promised to leverage his connections among “ICO-type companies” to boost NewsBTC’s business. “ICOs have very limited options when it comes to marketing because a few bad actors have taken money off people, fraud etc., and this means that companies like Facebook won’t offer ad services to them,” he noted.

Less institutional involvement

He used his experience in both industries and noted that the crypto space differs from forex quite significantly. “There’s far less institutional involvement in crypto right now so many of the traditional tech analysis methods that work in FX are ineffective, purely be cause there’s not enough volume behind price action to make patterns, key levels etc self-fulfilling.”

In last January, NewsBTC launched a new website with various new features and widgets. 2017 brought a wide range of internal developments and key hires in the company, alongside increased cooperation with FX brokers and the retail industry.