Alex Krite, Citi’s co-manager for digital assets, announced on Thursday his resignation from the banking giant after 11 years in the company via LinkedIn. In his post, he stated that he intends to devote himself fully to the development of a new cryptocurrency company, but did not give further details yet.
Crete has led the digital asset group with Greg Girazole for less than a year since the unit was launched in June 2021. Girasole also announced his departure via LinkedIn, and together he and Krett plan to start their own blockchain project. They said they would exchange more details about the case in the coming weeks.
Kritan’s enthusiasm for its new venture stems from a belief that digital assets “will continue to become increasingly important to global capital markets and shape new business models.” He added that a personal interest in digital assets based on blockchain technology arose more than five years ago and has now pressured him to “help this market mature” on his own terms.
While Kriti and Girasole supervised the digital asset group in Citi’s asset management department, the bank has another digital asset division in the institutional customer group, led by the newly appointed Puneet Singhvi.
Matt Zhang, another Citi chief executive, also mentioned the launch of a $ 1.5 billion cryptocurrency fund called Hivemind Capital Partners, with Algorand as its first technology partner. Like the company’s management, longtime Goldman Sachs CEO Roger Bartlett decided it was “time to embrace the crypto-economy” and let the bank manage Coinbase’s global financial operations.
Related: Coinbase is looking for a new CEO to discuss with politicians
Meanwhile, another bank is making groundbreaking efforts in the JPMorgan Chase metaverse, which has opened a virtual waiting room in the Decentraland metaverse where it hopes to take advantage of trillion-dollar market opportunities, according to the bank.