JP Morgan loses cryptocurrency boss: bitcoin battle rages in venture capital

Surely, the cryptocurrency sector is not only boiling from a technological point of view, but also in terms of human resources! In fact, a few days ago, we communicated it to you Binance has recruited a former MFA member. Today is the turn of a former employee of JP Morgan to join an American investment fund called: Apollo. Are cryptocurrencies going to the moon?

Even more millions in cryptocurrencies

Apollo Global Management is a fund manager that manages approximately $ 450 billion of assets. This fund focused primarily on traditional assets has decided to go deep into cryptocurrencies. Apollo Global Management’s strategy will essentially be based on the investment of 50 million to 250 million dollars in blockchain or crypto projects with high growth potential.

However, Apollo is unlikely to get direct exposure to Bitcoin. Indeed, John Zito, the Deputy Director of Investmentssuggested that the fund was more interested in projects with real use cases such as custody of assets or even markets.

To achieve its goal, Apollo Global Management wants to put all possibilities on its side by taking an industry dimension at the crossroads of traditional finance and cryptocurrencies.

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A cryptocurrency bounty embarks for Apollo

In fact, Apollo Global Management has recruited Christine Moy. The young woman is no stranger to cryptocurrencies, since she was in charge of the blockchain and cryptocurrency for more than 6 years in JP Morgan. She was also in charge of the metaverse for about a year and a half. It is mainly thanks to her that JP Morgan has managed to gain a foothold in Decentraland.

Christine Moy is no stranger to cryptocurrencies and will be an asset to Apollo Global Management
Christine Moy, the new recruit of Apollo Global Management

Apollo talked about this recruitment with our Coindesk colleagues:

“It will also play a key role in our investment strategy in the most innovative digital asset companies and founders, with a particular focus on those transforming the financial services industry where Apollo can serve as a validator and catalyst for new technologies. “

The more time passes, the more we can see it investment funds or other institutions, such as BlackRock, are interested in digital assets. Is it a grassroots movement or just a fad? Difficult to give a precise opinion on the subject. However, we can hardly imagine these fund managers transferring millions of dollars for a short-term operation.

Apollo and other institutions interested in cryptocurrencies? That’s a good sign! And she ? Don’t wait any longer register on the reference cryptocurrency exchange FTX. A lifetime reduction in your trading fees awaits you thanks to the JDC affiliate link.

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