Antony Lewis is the author of the book The Basics of Bitcoins and Blockchains and the founder of the blog Bits on Blocks. Lewis's career includes roles in traditional finance, early cryptocurrency exchanges, enterprise blockchain research at R3, and leading the digital asset investment team at Singapore's state-owned investment firm, Temasek. [1] [2]
Antony Lewis attended the University of Cambridge, where he matriculated at Gonville & Caius College. [3] [4] Sources vary on the specifics of his degree, with some indicating a Master of Engineering and others a Master of Arts in Natural Sciences with a focus on Chemistry or Physics. [2] [5] His blog notes that he graduated with a Master of Engineering (MEng) from Cambridge. [2] Prior to university, he served in the Royal Navy as a sponsored student. [6]
Lewis began his career in traditional finance before transitioning to the blockchain and cryptocurrency industry in 2013. His work has spanned FX trading, technology management, enterprise blockchain research, and venture capital. [2]
After graduating, Lewis started his career as a strategy consultant at OC&C Strategy Consultants in London. [2] In 2007, he joined Barclays Capital, where he worked as a G10 spot foreign exchange (FX) trader. [2] [7]
In 2010, Lewis joined Credit Suisse and relocated from London to Singapore. [8] At Credit Suisse, he served as a Vice President and IT Project Manager for the FX Front Office, leading a team of software developers for the bank's electronic trading and risk management systems. [2] It was during his time at Credit Suisse that he developed a deep interest in Bitcoin, experimenting with mining and exploring the underlying technology. [1]
In 2013, Lewis left traditional finance to join the cryptocurrency industry professionally. [8] He became the Director of Business Development for Asia at itBit, a venture capital-funded Bitcoin exchange based in Singapore. [2] As one of the first employees in the Singapore office, he was instrumental in establishing the company's presence in the region. [1] The company later received a trust charter from the New York Department of Financial Services (NYDFS) and rebranded to Paxos. [6]
During this period, Lewis also took on a significant role in the local industry, serving as the founding President of the Association of Cryptocurrency and Blockchain Enterprises and Start-ups Singapore (ACCESS) from 2014 to 2016. [2] After departing itBit in 2015, he worked as an independent blockchain consultant and launched his educational blog, "Bits on Blocks," to explain blockchain concepts to a business audience. [2]
In April 2016, Lewis joined R3, an enterprise blockchain software consortium. [2] As Director of Research, he was based in Singapore and led research initiatives, focusing on the applications of distributed ledger technology (DLT) for financial institutions. [6] His work involved educating banks, regulators, and central banks on DLT, enterprise blockchain applications like R3's Corda platform, tokenized assets, and Central Bank Digital Currencies (CBDCs). [7] He held several director-level roles at R3 over a period of approximately five years, departing in late 2021. [2]
Lewis joined Temasek, Singapore's state-owned investment company, in September 2021 as Director on the Blockchain & DLT Investments team. [2] He led the "Blockchain Pod," a specialized team responsible for shaping the firm's investment strategy in digital assets, Web3, decentralized finance (DeFi), and the metaverse. [9] [5]
The team's strategy involved making direct investments into digital asset companies and investing in venture funds specializing in the sector. [10] During his tenure, Temasek made notable investments in companies including Animoca Brands, Amber Group, Immutable X, ConsenSys, and the cryptocurrency exchange FTX. [4] [3] [11] Lewis's tenure coincided with the high-profile collapse of FTX, a significant event for Temasek and its blockchain investment division. He departed from Temasek in 2023. [5]
In 2018, Lewis authored the book The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them. [2] The book is an introductory guide aimed at explaining the fundamental concepts of blockchain and cryptocurrencies to a non-technical audience. [1] It became an Amazon bestseller and has been adopted as a textbook in several universities worldwide. The book has been translated into multiple languages, including Chinese, Japanese, Korean, Turkish, and Vietnamese. [4]
Lewis is the founder and primary author of the blog "Bits on Blocks" (bitsonblocks.net), which he started around 2015 to provide clear and accessible articles on blockchain technology for a business-focused audience. [2] He is also a frequent public speaker and a recognized thought leader in the industry, presenting at major global finance and technology conferences. These include Money 20/20, Consensus, TOKEN2049, CFC St. Moritz, and events hosted by Blockworks and the Asian Development Bank. [2] [8]
In a speech at the Ethereum Community Conference in July 2022, Lewis discussed Temasek's investment strategy, stating that the firm continued to invest in both individual companies and funds "through the cycle." He also addressed the challenge of educating a large organization about digital assets, noting the internal journey of "convincing the organization, and convincing management and everyone around that coins aren’t just a massive Ponzi and scam." [11]
During Lewis's tenure as the director of Temasek's blockchain investment team, the firm made a significant investment in the cryptocurrency exchange FTX. Between October 2021 and January 2022, Temasek invested a total of $275 million in FTX International and FTX US across two funding rounds. [2] [4] The investment followed an eight-month due diligence process conducted by Temasek from February to October 2021. [11]
In his July 2022 speech, Lewis identified FTX and FTX US as his team's "first direct investment" in the crypto space. [11] In November 2022, FTX collapsed into bankruptcy amid revelations of widespread fraud and mismanagement. Temasek subsequently announced its decision to write down its entire $275 million investment to zero. [2]
The investment loss drew significant public scrutiny regarding the quality of Temasek's due diligence process, which failed to identify critical red flags, such as FTX's lack of a functioning accounting department or proper corporate controls. [11]
In May 2023, following an internal review, Temasek's chairman announced that the company had reduced the compensation for the senior management and the investment team responsible for the FTX investment to reflect collective accountability for the financial loss and reputational damage. [12] [8] While official reports did not name Lewis individually, he was the director of the team that led the investment during this period. [2] Lewis's departure from Temasek occurred in 2023, following the collapse and the firm's internal review. [5]
Lewis has been recognized on several occasions as a leading figure in the Asian financial technology and blockchain sectors.