Maghnus Mareneck (M&T’21) is co-CEO and co-founder of Cosmos Labs, where he leads growth, sales, and strategic partnerships for one of the world’s most advanced blockchain technology platforms. Cosmos Labs builds the foundational software that powers networks of blockchains, working with global banks, payment systems, governments, and Fortune 500 companies to help them experiment with and deploy secure, distributed ledger technologies. In recognition of his entrepreneurial leadership and impact in an emerging and transformative field, Mareneck will receive the Distinguished Young Alumni Award at the 2026 M&T Summit. In the below Q&A, he reflects on his time in the program and his career path thus far.
Q: What first sparked your interest in your field, and how did your time in the M&T Program help shape that path?
MM: I was interested in blockchain even before I came to M&T. When I was in high school, it struck me as an interesting new technology. I took a gap year before starting the program and met a lot of people in the Ethereum community, which deepened that interest.
When I got to M&T, I was surrounded by incredibly smart, driven people, and I felt like a small fish in a big pond. I was always entrepreneurial and constantly trying to start businesses. One of them, while I was a student, involved opening Pokémon cards on livestream and auctioning them off.
Even though the coursework at M&T was intense, there was a real emphasis on entrepreneurship – especially through Professor [and Faculty Director] Gad Allon. I could always go to him with ideas, and he took them seriously. I read every book he sent me and developed a close relationship with him. I always felt that side of me was nurtured, even in an environment where grades mattered a lot.
There was also a strong sense of expectation in the program. Seeing other M&T students take big swings and succeed made me think, maybe I can do this too. That confidence was huge for me.
Q: Receiving this award so early in your career is a significant honor – what does this recognition mean to you?
MM: It was a big honor, and I was emotional when I found out. I’ve stayed in touch with Gad since graduating, updating him on milestones along the way, so this means a lot to me.
To me, the award symbolizes taking a bet – on an industry that many people wouldn’t take a bet on. Blockchain wasn’t a “safe” choice – it was risky, and very different from the traditional banking, consulting, or big tech paths many M&T students pursue. There was a real potential for total failure.
But that risk-taking gave me a competitive advantage. The industry has grown significantly, and I’ve been able to carve out a meaningful space within it. I’ve always been a big risk taker and this award represents that leap of faith.
Q: Can you share a pivotal moment or challenge after graduation that had a major impact on your professional journey?
MM: The pivotal moment for me was realizing that my growth – both personally and professionally – needed to be in my own hands. About a year into working in my first job after graduating, I saw that no matter how hard I worked, promotions followed a fixed timeline. Even if I did exceptionally well, I wasn’t in control of the pace or scale of my impact.
On the morning of my 24th birthday, I remember feeling a sense of panic. I felt like I was on a track I couldn’t escape – a rat race where the outcome was largely predetermined. That’s when I decided to take control and made a plan to quit.
At the same time, people I respected were starting their own companies and making it look achievable. My initial goals were small and scrappy: build things, get a few customers, support myself, and slowly grow from there. I just kept building on each step.
Q: How have the skills, values, or relationships you built as a student influenced the work you’re doing today?
MM: One of the most influential classes for me was Professor Allon’s OIDD course on operations. I really liked it because he talked a lot about how companies scale and it gave me a good sense of high leverage versus low leverage, which spoke to a core piece of who I am. I have a natural aversion to doing low leverage tasks. Doing two degrees in four years forces you to make hard decisions about how you spend your time. You can’t do everything and you learn to prioritize what really matters – academics, relationships, extracurriculars – without overextending yourself unnecessarily. That mindset carries into how I operate as a founder and executive.
Q: What advice would you give current students or recent graduates who hope to make a meaningful impact in their careers?
MM: It’s very hard to make a meaningful impact by going down the beaten path because so many people are already on it. Banking, consulting, big tech – once you’re on those tracks, they’re hard to escape, and it’s tough to outperform the system.
If you want to be an entrepreneur, you need to develop an edge. That might mean going very deep in a specific area, developing true expertise, and building confidence that you can make a unique contribution – even if means earning less at first. When you’re young, you have a massive advantage: fewer responsibilities, fewer assumptions, and the freedom to go all-in on learning something new. Take advantage of that – it doesn’t last forever.