City’s Digital Asset Co-Heads Quit to Start New Crypto Venture

Citi Group is a multinational American investment bank. The company recently jumped into the cryptocurrency lane through its digital asset program. However, at present, Wall Street is swept by a new trend of leaving behind the corporate jungle and joining an independent cryptocurrency venture. Following the same tradition, two joint-heads of Citi digital assets recently resigned.

Greg Girasole has been working on the Citi digital asset department for a little smaller than a year. He recently posted a blog on LinkedIn explaining why he left his job. His contemporary, Alex Kriete, also announced his resignation from his 11-year post around the same time. Both co-heads have explained that they will be moving on to a new crypto startup.

New Crypto-Based Business Models

Leaving an 11-year old career is not an easy decision, and it needs to have some solid backing and evidence.

Considering the risk factors, Kriete has expressed his enthusiasm towards the continual growth and development of the cryptocurrency sector in the future. He also reflected on the possibility of new cryptocurrency-based business models as the days passed.

Just like the arrival of the internet created a considerable amount of new jobs, many experts believe that blockchain will also be able to do the same. Kriete talked about this personal interest in learning more about blockchain technology and estimated that in the next 5 years, there would be a whole new ecosystem available.

Citi Group has another cryptocurrency venture under the supervision of a wealth management division that is headed by Puneet Singhvi. Considering that another Citi executive Matt Zhang left the bank for a crypto initiative called Hivemind Capital Partners, it is not shocking to learn about the backup. Zhang reportedly invested $1.5 billion in Hivemind with association with the Algorand project.

Meanwhile, Roger Barlett, an experienced Goldman Sachs executive, also left the organization to work on the crypto economy. Bartlett has now joined Coinbase. JPMorgan Chase has already invested in a virtual land in the Decentraland Metaverse. The bank spokesperson claimed that its experts are projecting to generate $1 trillion from the platform in the future.