Ernesto Huerto is the very embodiment of Bitcoin. As the operator of Crypto Space, a physical bitcoin exchange in Los Angeles’ San Pedro neighborhood, Huerto knows more than most about the challenges of running a cryptocurrency business while maintaining banking access and compliance. In a wide-ranging interview, the Crypto Space owner has disclosed the realities of straddling the line that separates centralized and decentralized finance, and the underhand tactics big banks deploy to crush crypto startups.
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‘If JP Morgan Chase Is Listening I’d Like My $100,000 Back’
Ernesto Huerto faces a twin challenge upon awakening each morning: keeping his own business afloat, while doing the same for his clients. It’s not that business is bad – in fact, Crypto Space is booming. Rather, the realities of operating in the cryptocurrency industry mean Huerto is constantly at risk of having the rug pulled from under his feet by the banks. His clients, many of whom operate in the marijuana industry, face the same challenge. Crypto Space is thriving thanks to a series of crypto ATMs installed in multiple locations, and Huerto has found a niche in aiding businesses specializing in medical marijuana and money transmission – all performed legally and by the book.
On this week’s Humans of Bitcoin podcast, Huerto tells host Matt Aaron about the struggles he faces in the day-to-day running of Crypto Space, but explains why he wouldn’t want to be doing anything else. The brick and mortar premises, Huerto recounts, “is more like a crypto bank, a place where you can get instant settlement and where we solve people’s problems. They can buy large amounts of crypto and have zero slippage and
