Co-Heads Of Citigroup Digital Asset Effort Leave To Launch Crypto Startup

The co-heads of Citigroup Digital Asset Efforts leave the platform to launch a crypto startup and dive deeper into the blockchain industry as we can see more in today’s latest cryptocurrency news.

Greg Girasole and Alex Kriete, the co-heads of Citigroup Digital Asset Effort are leaving the company to dive into the crypto and blockchain industry much deeper. Both of them were leading the asset group for Wall Street giant Citigroup and now they announced departing from the company. According to Kriete’s LinkedIn post, the duo will create a new crypto startup in the blockchain space:

“Over five years ago my personal interest and subsequent writing about blockchain-enabled digital assets (yes, “crypto”) led to an amazing network of colleagues across Citi businesses, external companies, and interested clients, and at this time I will be taking on a new challenge professionally by creating a new company in this space.”

The former Citi executives said that they believe in the importance of digital assets and stated that the sector will grow further to global capital markets and shape some new business models. He went on to add that he is quite excited to assist in the maturation of the market and this sector of the industry.
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Apart from them, a few other Citi executives left the company to pursue the digital asset industry. The former head of structured products trading Matt Zhang founded a crypto platform called Hivemind which is dedicated to the blockchain technology and crypto-asset ecosystem. Citi Veteran Christopher Perkins also left the company after 13 years to join CoinFund as a managing partner and president.

Citi broke into wealth management back in 2021 after announcing a launch of a new business unit dedicated to the blockchain space. Dubbed the “Digital Assets Group” the new initiative will be a part of the company’s wealth management division. Alex Kriete and Greg Girasole are tasked to lead the unit on developing products and work with Citi’s partners and the broader Capital Markets and investments management team.

Five months later, Citi revealed more plans to grow the team by hiring 100 new employees. Pneet Singhvi was appointed as the new head of the division to develop a new strategy and facilitate different internal operations like investment banking, trading, and security service to work with blockchain technology. The main goal behind the unit was to engage with important internal and external stakeholders like startups and regulators.