Maria Pesce is Ushering in a Regulation-First Messaging in Crypto
Maria Pesce would be the first person to tell you to go against the grain.
Indeed, in an industry that’s all about transcending centralized control of governments and banks, she is embracing a security-first, compliance-first, regulatory friendly approach to digital assets. It puts her at odds with the majority of the crypto ecosystem who balk at excessive regulation.
Currently, she’s the Brand Marketing Manager at Gemini, one of the world’s first licensed cryptocurrency exchange and custodian. Founded by Cameron and Tyler Winklevoss in 2014, Gemini provides a trusted, secure marketplace to trade bitcoin and other cryptocurrencies for retail investors and institutional clients. She focuses on driving brand awareness and user acquisition for Gemini through storytelling, creative advertising, partnerships, event production, content creation, social media, and more.
We sat down with Maria to talk about messaging, adoption, and why crypto needs thoughtful regulation.
From venture capital to crypto
Her path to blockchain isn’t as linear as most people think.
“I like to think that the space found me,” she said. Maria got her start in venture capital with Winklevoss Capital as their social media intern. As the founders began building out their cryptocurrency startup, a transition into crypto became only natural. She landed at Gemini fresh out of graduating from Indiana University Bloomington and later helped build out Gemini’s marketing team from the ground up.
“I had the opportunity to wear a lot of hats. I managed our social media from 2014 to 2018, while also helping out in Compliance, Cash Management, Customer Experience, and Public Relations. The experience I’ve gained learning how the exchange operates from every single facet of the organization has equipped me with the deep knowledge to understand and extend our brand and identity.”
A regulation-first approach
Central to Gemini’s working philosophy is the ethos of asking for permission, not forgiveness, as attested by the fact that Gemini is the first exchange in the world that has been able to comply with the rigorous requirements of SOC 1 Type 1 and SOC 2 Type 1 and 2 examinations. The arc of the industry bends toward bridging between cryptocurrencies and traditional fiat, Gemini argues, an approach that could benefit both.
Gemini prioritizes institutional compliance and works with regulators to develop better standards to grow the global cryptocurrency market. Earlier this year, it filed for a license to operate in the UK market.
It’s also a stance that tends to generate heat from the broader crypto community. One such example was the “Revolution Needs Rules” ad campaign. It garnered both ire and praise from different pockets of the cryptosphere; while some see regulation as the antithesis to the spirit of cryptocurrency, others saw the campaign as a welcome call to action for broader crypto adoption. In contrast to the driving crypto narrative that pushes for an overhaul of the financial system from its legacy predecessors, the campaign posits that investors coming into cryptocurrency deserve the same protections they have in traditional finance. A “Wild West” environment is no longer viable. Moving the industry forward requires the meaningful implementation of the same standards and practices.
“Our messaging was geared towards bringing regulation and stability to the category. It was a controversial campaign, which we expected was going to be the case. Playing by the rules has always been core to our DNA and we felt it would resonate with the average retail investor. I think it fostered an important discussion within the community and generated a lot of conversations around regulation and rules that are important for maturation of the space.”
Bringing crypto into the mainstream
Adoption takes a central priority in Gemini’s ethos.
“We’re trying to get individuals comfortable with an entirely new asset class. On one end, it’s ensuring that Gemini is the brand they’d choose out of hundreds of other exchanges out there. On the other, it’s about fundamentally reinventing the way people think about money. People tend to have muscle memory with money and trying to shift that is both fascinating and a huge marketing challenge.”
Maria had a hand in creating Crypto and Coffee, a video series that trades coffee for a conversation about cryptocurrency with a passerby. “We wanted to get a sense of crypto from the perspective of the general public. Answering questions that might not occur otherwise: What are the barriers to entry? What about crypto may be potentially scary to you? How can we help solve this? We just wanted to get on the ground, answer common questions, and capture those important interactions on film. We started in New York and expanded to Washington DC and San Francisco.”
“People were curious and challenged us by asking tough questions, spanning from insurance to security. Like any emerging technology, it’s ultimately taking to the streets to destigmatize the asset class and help shed light on the category.”
Demystifying cryptocurrencies through education
Perhaps the largest barrier to mass adoption is the lack of understanding and knowledge among the public. Confusion and misconceptions run rampant and crypto comes with a few caveats.
“The media portrays cryptocurrency in a very different light than how we experience it every day,” Maria adds. And so Gemini built out a crypto learning portal, Gemini Learn, on its website that delves into the basics (What is bitcoin?) and a glossary that offers beginner-friendly explanations for common terminology used within the community.
“People are eager to understand. We’ve been moving towards more educational content in an effort to make learning about crypto free and more accessible.”
“The field has a lot of fluffy jargon and is highly technical. We need both institutions and retail consumers for this asset class and industry to flourish. So for non-technical individuals, it’s important that we have these resources and explanations about the category, which are not overwhelming or intimidating. Ensuring these concepts are digestible is what can help the category become more mainstream. People don’t necessarily need to understand the technical intricacies of mining or the blockchain to buy, sell, and trade crypto seamlessly, however, there should be resources that can help make people feel like more confident investors.”
Crafting the right messaging
While regulators are slowly trending towards a crypto-friendly shift, mass adoption requires a more human-centric brand of storytelling, Maria argues.
“People want authenticity,” she said. “From a brand perspective, it’s important to stay true to who you are when curating content. You see a lot of brands or companies waver with their messaging or their tone and I don’t think that resonates well with individuals. You can build trust through familiarity.”
Her advice to startups pondering about how to position their brand?
“Be consistent,” she said. “At Gemini, we’ve always had a genuine brand. In short, we care about regulation, we follow rules, we want to make cryptocurrency accessible to everyone. We like to say we’re the fastest tortoise in the race, in the sense that we’re not listing every other token under the sun or expanding to jurisdictions without getting licensing. It’s because we want to make sure we’re here for the long run.”
Getting more women in the asset class
Maria is equally driven by a desire to get more women into crypto. A recent study found that 1 in 5 crypto holders are women. Even more dismal is the percentage of female coders contributing to blockchain projects, which stood at 4.64%.
She points to a structural problem. “Women aren’t set up for success in the same way men are,” she said. “Even with personal finances, you find parents talk about money differently to their sons than their daughters. My partner has said that his father would often talk to him about stocks and investing when he was growing up, I can’t say the same for myself.”
This year, Gemini kicked off International Women’s Day by launching a campaign that highlights the work of the Mona Foundation and Africa Development Promise. “We wanted to educate more women about cryptocurrency, and also encourage individuals to donate to organizations that help empower women and fight for gender equality globally.” The IWD campaign raised over $15,000.
She has taken her passion into mentoring girls and young women. Maria currently sits on the board of The Lower Eastside Girls Club of New York and mentors at she256 and BUILT BY GIRLS.
“I wanted to mentor young women that are interested in this space and to let them know that it’s okay if your path isn’t perfectly linear. I was studying law in college and didn’t think I would be working at a startup or in cryptocurrency, but life takes you down a different path. I think everything happens for a reason and it always works out in the end.”
