Former bankers — including one who quit Goldman Sachs to play Axie Infinity — are reportedly launching a $1.5 billion crypto fund
Citigroupexecutive Matt Zhang is launching a $1.5 billion cryptofund, Bloomberg reported.
- He brought on former
Goldman Sachsbanker and Axie Infinitypersonality Sam Peurifoy to help.
View all Offers
- 35% OFF
AmazonBasics Zero Gravity Portable Textilene Fabric and Steel Reclining Lounge Chair, Blue₹ 3499₹ 6000Buy On
- 28% OFF
Sleepwell Starlite Discover 4-inch Firm Single Size Foam Mattress (72*36*4 Inches)₹ 3299₹ 3358Buy On
SleepX Dual Comfort Mattress 6 inch King Bed Size, High Density (HD) Foam- Medium Soft & Hard (Orange, 78x72x6)₹ 9509₹ 18415Buy On
SAVYA HOME Apex Zoom Ergonomic Home and Revolving Office Chair (Black)₹ 3139₹ 9000Buy On
Amazon Brand - Solimo Cartina Fabric 5 seater L shape sofa Set (Grey)₹ 26999₹ 30000Buy On
A former Citigroup executive is launching a $1.5 billion crypto fund and bringing on former Goldman Sachs banker Sam Peurifoy, who quit his job previously to make money in
Matt Zhang, who was most recently a global co-head of structured products trading at Citigroup, is launching the investment firm named Hivemind Capital Partners and has already gotten interest from institutional investors like pensions, endowments, and sovereign wealth funds, according to the report.
He hired Peurifoy to run the play-to-earn segment of the firm, Bloomberg said. Peurifoy makes money in the ethereum-based video game world of Axie Infinity, where he's known as "Das Kapitalist" and lends digital tokens to new players and splits the eventual winnings.
Zhang and Peurifoy did not immediately respond to LinkedIn messages from Insider. In a post, Zhang said he's "super excited about my new venture and second life."
In a press release confirming the news, Zhang said, "We believe blockchain technology is a paradigm shift, and we are still in the early innings."
New York-based Hivemind said it will focus on making venture investments in crypto companies, trading digital assets, and setting up a dedicated "play-to-earn" strategy.
For the play-to-earn arm, Peurifoy told Bloomberg he would focus on building and scaling gaming communities to help individual members live and earn money in the digital world.
As the crypto world has grown over the last several years, banks have been adding crypto-related roles and offering a sweet deal to new hires. On top of that, more crypto-oriented funds are coming onto the scene, like one launched by the Coinbase cofounder and former Sequoia partner Matt Huang.
- pi Ventures plans to invest in 25 young startups with its latest $75 million fund
- Best deals on hair straighteners, trimmers and other grooming products on Amazon
- Amazon Republic Day Sale 2022 — Best deals and offers on Echo smart speakers, Fire TV Sticks and more
- Two IndiGo planes avert mid-air collision over Bengaluru airport, DGCA to take strict action
- India's tennis star Sania Mirza announces retirement from the sport by the end of 2022 season