Former FTX Executives Land New Roles in Crypto Industry
Amy Wu, a former executive at FTX Ventures, has joined Menlo Ventures, a prominent venture capital firm in Silicon Valley. Brett Harrison, who led FTX US before its collapse, has started a startup focused on building a trading algorithm around GPT-4. Zhe “Constance” Wang, the former COO of FTX, has reportedly been hired by Sino Global Capital, a China-based crypto investment fund.
Zhe Wang’s Experience and New Position
Wang had been an executive at FTX for over four years, serving as COO for nearly three years. Prior to her time at FTX, she worked as an investment analyst at Credit Suisse and had a brief stint at Huobi. The details of her new position at Sino Global Capital have not been disclosed.
Previous Connections Between FTX and Sino Global Capital
SGC was an early investor in FTX and recently launched a $200 million fund, with FTX as one of the leading investors. SBF, the founder of FTX, acknowledged the support and collaboration of the SGC team in realizing the FTX vision. It is likely that Wang’s networking with the SGC team during her time as COO played a role in her new position in the crypto investment sector.
No Wrongdoing Accusations
It is important to note that none of the former FTX executives mentioned have been accused of any wrongdoing. Despite the collapse of FTX and the subsequent investigation, no evidence of intentional misconduct has emerged.
Hot Take
The hiring of former FTX executives by other prominent players in the crypto industry suggests that their experience and expertise are still valued, despite the collapse of FTX. It also highlights the interconnectedness of the crypto investment sector, with individuals moving between different companies and funds. This mobility and collaboration may contribute to the continued growth and innovation of the industry.
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