Monday, July 22, 2024

Former Citi banker establishes $1.5 billion cryptocurrency

The former trading executive at Citibank, Matt Zhang has announced the launch of Hivemind Capital Partners. On Monday, 29 November 2021, Matt made revelation of launching a $1.5 billion multi-strategy fund. The company will use these funds in creating a virtual world, technological infrastructure, and programmable money in cryptocurrency. Also, it has been revealed that plans of these fund allocation will concentrate on hiring.

According to Matt, blockchain technology is a paradigm shift and his company is looking forward to providing support to entrepreneurs. The entrepreneurs who wish to enter the crypto world by providing them with proper infrastructure. He continued saying that, there is a lack of proper management and infrastructure for cryptocurrency entrepreneurs. Though, there are no funding disclosed by Matt as of now.

As of now, the first technological partner of Hivemind is Algorand. As per the sources, Algorand is one of the 20 blockchain projects and the amount of ALGO token amount around $11.2 billion. Also, Algorand is currently focusing on developing technological infrastructure for the financial industry.

Who is Matt Zhang?

The founder of Hivemind is Matt Zhang which is located in New York, previously Zhang used to work for Citibank. In the bank, he worked for 14 years as a co-head of the trading and solution division. Later, he founded Hivemind where he hired Sam Peurifoy, the previous banker at Goldman Sachs. As per the reports, Sam quit his job to earn money by playing play-to-earn games. Zhang spoke about, Sam Peurifoy will control run play-to-earn games section.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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