A trio of JPM executives is turning over a new leaf and joining the Web3 world.
JPMorgan, an American-based investment bank, has recently announced that it lost 3 executives that will reportedly join crypto-driven companies, following the current crypto market turmoil.
It seems as though the trio wasn't fazed by the harsh market conditions where numerous organizations, including Bybit, Robinhood, Crypto.com, Coinbase, Banxa, Gemini, and Huobi Global, are laying off a significant portion of their staff members.
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The financial institution lost its former managing director Eric Wragge to the Algorand blockchain project, where he took the mantle of becoming its head of business development and capital markets. Wragge will be responsible for leading global initiatives in decentralized finance (DeFi), as well as traditional capital markets. He added:
“Coming from a leading global investment bank, I understand the uncompromising performance requirements for a layer 1 blockchain to compete against and improve upon many aspects of traditional finance.”
Likewise, Puja Samuel, JPM’s former head of ideation and digital innovation, arrived at Digital Currency Group and joined the VC firm as its head of corporate development. The self-proclaimed innovation catalyst and ecosystem builder commented on the departure and her shift to the Web3 environment:
“I am excited to help build out new strategic partnerships alongside an energized team that is driving change across the financial system.”
A few days back, JPM’s former head of asset management sales Samir Shah, who worked at the company for more than 12 years, also left the firm to search for fortune and fame by joining a hedge fund dubbed Pantera Capital as its new COO. Shah noted that he is looking forward to starting a new chapter of his life and working with Pantera.
