Crypto CEO: I hallucinated when I worked on the equities trading floor

Yesterday was world mental health day, a point of concern for many in finance exacerbated by a year of controversial deaths in the sector. For the occasion, Kevin Lee, CEO of crypto firm Gate.HK revealed his story about his clinical depression which happened while working on the equities trading floor of a bank.

Click here to follow our new WhatsApp channel, and get instant news updates straight to your phone 📱

Lee did not disclose the employer, but previously had stints at BNP Paribas, Macquarie and JPMorgan. His depression came shortly after a promotion, in which he "went from being the top performer in my previous position to becoming the underperformer in my new one." This built up a mounting pressure, both from the underperformance and "the usual kind from the trading floor," which worsened his performance and health further.

He began to deteriorate. He said he "hallucinated voices, hearing people yelling like they were on the trading floor, while [he] was alone at home." He would also be constantly tired, and feel "numb, unable to feel any emotion." 

Lee had multiple breakdowns before seeking professional help. He didn't tell his manager, instead going to a senior colleague, who was able to offer him the options of switching teams or relocating, but he declined both and resigned, saying he was "too broken."

The story will likely resonate with the bankers who lamented the death of Leo Lukenas earlier this year. He was alleged to have worked 120+ hour weeks at Bank of America after he died of heart complications, although the bank said its own records didn't indicate this. As deal volumes ramp up, hours for young bankers are getting even higher.

Those kinds of long hours aren't as prevalent in trading, but another recent death highlighted issues there, too. Adnan Deumic, another BofA junior in algorithmic credit trading, died of suspected cardiac arrest just two weeks after Lukenas. A source told the New York Post that he worked closer to 60 hours per day, but those hours were "incredibly intense."

Lee doesn't attribute any of his suffering to the employer, which he said was a "great company with amazing employees." He said the HR business partner that worked with him was "honestly much better than my shrink". Moreso, he attributed it to the nature of the industry in general, and the notion that "bankers eat stress for breakfast."

Lee now works in crypto, an industry with its own reputation for being incredibly stressful and fast moving. He told eFinancialCareers that "crypto and traditional finance have more in common than not," but he has more opportunity to "help steer and shape the industry’s direction" in the former. Crypto's evolving nature "resonates more" with Lee, who said he's "humbled to be constantly learning new things every day."

The industry has its own unique challenges, however, most notably that the markets operate 24/7. Lee said Gate.HK combats that with flexible work not tied to market hours or in-office mandates. He said the work remains rewarding "as long as we don’t confuse the round-the-clock nature of the industry with the need for round-the-clock work." 

For your own mental health, Lee said it's important to "share your feelings. Address the issues." You can access mental health resources from the UK's Mind charity here.

Have a confidential story, tip, or comment you’d like to share? Contact: Telegram: @AlexMcMurray, WhatsApp: (+1 269 237 3950). Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)