Ben Strack

<div id="highlights-block_62b5d93dbc438" class="highlights">
 <ul>
 <li>Longtime Facebook leader becomes CEO of Web3 advertising provider</li>
 <li>Activision Blizzard executive moves over to lead blockchain gaming company</li>
 </ul>
 
</div>



Though companies such as <a href="https://cms.blockworks.co/crypto-com-cutting-5-of-workforce-amid-digital-asset-downturn/" target="_blank" rel="noreferrer noopener">Crypto.com</a>, <a href="https://cms.blockworks.co/cryptocurrency-lender-blockfi-set-to-cut-staff-by-a-fifth/" target="_blank" rel="noreferrer noopener">BlockFi</a>, <a href="https://cms.blockworks.co/coinbase-cut-workforce-ceo-wary-of-potential-recession/" target="_blank" rel="noreferrer noopener">Coinbase</a> and <a href="https://cms.blockworks.co/gemini-joins-growing-list-of-crypto-exchanges-cutting-staff-amid-downturn/" target="_blank" rel="noreferrer noopener">Gemini</a> have recently revealed plans to cut staff or slow hiring, others continue sharing their intentions to grow their headcount.&nbsp;



Demand for talent is strong for firms looking to expand. A recent analysis of Google search data by Cryptojobslist.com found that searches for “remote crypto jobs” grew by 560% worldwide this month.



Crypto exchange OKX announced last week that it plans to increase headcount by 30%, growing by 1,500 people to about 5,000 over the next 12 months.



“Seeing people in our community losing their jobs is quite unsettling,” an OKX spokesperson told Blockworks. “Our focus right now is to see if we can be the home for the incredible talent in our industry who may have been impacted by the recent layoffs.”



The exchange is targeting professionals in product design, engineering and marketing as its main focus shifts to building a leading brand in the space.&nbsp;&nbsp;



OKX has seen a slight increase in applications since the onset of the bear market. It received more applications in April than in any previous month of the year, and even more were submitted in May, according to the company representative.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“This is a great time to hire talent who are coming to the industry not just for the hype but rather because of their pure passion for building,” the spokesperson added.</blockquote>



Derivatives exchange Bitget is also seeing an influx of applicants, most likely due to headcount cuts from other companies, Managing Director Gracy Chen said.&nbsp;



Bitget revealed earlier this week that it seeks to double its workforce to 1,000 people by the end of the year. The company is focused on filling operations, product development and customer services roles across regions in which it has seen growth.&nbsp;



A crypto winter gives the firm “a golden window” to achieve low-cost, high-quality growth, Chen explained. Historical data has proven that with each market downturn, the recurring bull run will bring about even stronger and positive results, she added.



“Oftentimes, a company’s success is very visible during a bull market, however, the foundation was likely established during a bear market,” Chen told Blockworks. “Regardless of the market conditions, it was a pressing business need for us to push forward with our hiring plans to pave way for new developments to come.”



<h3 class="wp-block-heading">A look at this week’s hires</h3>



Web3 advertising provider <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3570727-1&amp;h=1983329226&amp;u=https%3A%2F%2Fpermission.io%2F%3Futm_source%3DBitcoin.com%26utm_medium%3DBlockman.pro%26utm_campaign%3Dpolygon_migration&amp;a=Permission.io" target="_blank" rel="noreferrer noopener">Permission.io</a> appointed longtime Facebook executive Thomas Shin as its CEO.&nbsp;



Shin has spent 28 years in the digital advertising space at companies such as Meta (formerly Facebook), Yahoo!, MediaMath and Efficient Frontier, which was acquired by Adobe. Most recently, he was head of the Americas business at mobile programmatic startup Moloco.&nbsp;



Permission.io founder and former CEO Charlie Silver is set to become executive chairman.



Crypto exchange OKX brought aboard Rachel Conlan to be its global head of brand marketing and partnerships.



Conlan is responsible for the company’s brand and marketing efforts through partnerships with Manchester City FC, Tribeca Festival and McLaren Racing. The latter collaboration, <a href="https://cms.blockworks.co/crypto-exchange-okx-inks-f1-mega-deal/" target="_blank" rel="noreferrer noopener">revealed in May</a>, came around the time OKX hired chief marketing officer Haider Rafique from competing exchange OKcoin.&nbsp;&nbsp;



Conlan previously led the global partnerships team at international sports and entertainment agency CAA Sports and also worked as global chief marketing operations officer for communications group Havas.



Hut 8 Mining named Aniss Amdiss as its chief legal officer. He will lead Hut 8’s legal and governance portfolios and serve as corporate secretary, reporting to CEO Jaime Leverton.&nbsp;



Prior to joining Hut 8, Amdiss served as vice president of legal, general counsel and corporate secretary at healthcare services company Greenbrook TMS Inc.



Digital asset custody company Digivault has added Greg Vosper as its chief commercial officer to drive the firm’s business development, partnerships and sales strategy.&nbsp;



Vosper was most recently the director of strategic partnerships at Zodia Custody, a crypto custody solution built by Standard Chartered’s venture arm and asset management giant Northern Trust. He was also previously the lead of new client development and sales at CME Group and a business advisory and tax committee manager at Nexia International.



Private markets investment management firm Hamilton Lane hired Victor Jung to its newly created head of digital assets role.&nbsp;



The company had about $900 billion in assets under management and supervision — $106 billion in discretionary assets and $795 billion in advisory assets — as of March 31.



Jung was most recently head of distribution partners and liquid private markets for the Asia-Pacific region at Partners Group, where he oversaw business development and led onboarding for the firm’s wealth technology platforms.



Mark Aubrey is set to join blockchain gaming company Catheon Gaming as its co-CEO on July 11.



Aubrey joins the company from Activision Blizzard, the creators of games such as Call of Duty and World of Warcraft; there he worked as managing director and head of its Asia-Pacific arm. Before that, Aubrey was a marketing director at Warner Bros. Entertainment.



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Bitget

Latest in Crypto Hiring: OKX, Bitget Among Companies Boosting Headcount

<div id="highlights-block_6218d039e0ed6" class="highlights">
 <ul>
 <li>Chief compliance officer moves from Binance.US to Coinme</li>
 <li>Circle taps former leader at Meta and Google as its chief product officer</li>
 </ul>
 
</div>



FTX has hired Lauren Remington Platt as its head of global luxury partnerships as the company looks toward marketing efforts <a href="https://cms.blockworks.co/ftx-to-give-away-bitcoin-as-part-of-super-bowl-ad-campaign/" target="_blank" rel="noreferrer noopener">beyond the sport realm</a>.



The new executive founded beauty service Vensette, for which she launched partnerships with Saks Fifth Avenue, Vogue, Michael Kors and Chopard to bring hair and makeup experiences to professionals.



In her new role, Platt will target major luxury brands that have yet to integrate with cryptocurrency as a way to focus more on marketing to other consumer segments, such as women. She will be working closely with fashion model Gisele Bündchen, who leads FTX’s environmental and social Initiatives.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="985" height="500" src="https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg" alt="Lauren Remington Platt" class="wp-image-17944" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=985 985w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=50 50w" sizes="auto, (max-width: 985px) 100vw, 985px" /><figcaption>Lauren Remington Platt; Source: <a href="https://twitter.com/laurenremington" target="_blank" rel="noreferrer noopener">twitter.com/laurenremington</a></figcaption></figure>



Brian Reisbeck, former chief compliance officer at Binance.US, is set to serve in the same role for crypto cash exchange Coinme. He will focus on maintaining regulatory compliance standards during the next stage of the firm’s international expansion.



Before Binance.US, Reisbeck was the anti-money laundering compliance officer for Robinhood, helping to launch the company’s crypto trading platform.



Circle has named Nikhil Chandhok as its new chief product officer. He will focus on bringing digital currencies, such as USD Coin (USDC), to the mainstream and making it accessible to businesses globally.



Chandhok comes from Meta (formerly Facebook), where he led product development for augmented reality (AR) glasses. Before Meta, he worked at Google as its AR platform lead.



Craig Palmer is now the CEO of non-fungible token (NFT) marketplace MakersPlace. The company’s former CEO and co-founder, Dannie Chu, shifted to be executive chairman on MakersPlace’s board.



Palmer spent eight years as the CEO of fan platform Fandom and prior to that was the president and CEO of entertainment data and technology company Gracenote.



Permission.io expanded its advisory board by adding Jason Young, Kyung Kim, Sean Holzman and Son Nguyen.



Young is the president of digital marketing platform Chicory, where he advises on company growth and expansion. Kim is the senior vice president of digital activation for Horizon Media.



Holzman is head of ad platforms for video intelligence platform IRIS.TV. He previously worked as chief brand development officer and then chief digital revenue officer at Bonnier Corporation.



Nguyen brings experience of scaling startups. In 2019, he became chief technology officer of Ando, a fintech company that offers mobile banking services.



Sung Choi, a former senior quant equity researcher and portfolio manager at Mellon Investments, is now the head of investment at Gluwa. The financial platform uses blockchain technology and is focused on financial inclusion.



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Binance.US

Latest in Crypto Hiring: FTX To Move Beyond Sports Marketing

<div id="highlights-block_61e5dc7ebafae" class="highlights">
 <ul>
 <li>Permission.io CEO Charlie Silver predicts that half a dozen or so Web3 ETFs will launch in the next six months</li>
 <li>Simplify Asset Management last week revealed plans to launch a Web3 ETF (WIII), subadvised by Volt Equity</li>
 </ul>
 
</div>



More ETF companies will look to launch Web3 ETFs in the coming months as the trend offers access to crypto, but with a distinct brand, according to industry professionals.



“The ETF business is all about finding a category that can acquire assets,” <a href="http://permission.io/" target="_blank" rel="noreferrer noopener">Permission.io</a> CEO Charlie Silver said. “It’s more marketing than anything else.”



Silver previously co-founded Onramp Invest, Blockforce Capital and Reality Shares, the latter of which created one of the first blockchain equity ETFs — the Siren Nasdaq NexGen Economy ETF (BLCN) — in 2018.



Today, the Web3 theme is more attractive and “palatable” to regulators, lawmakers and institutional investors than pure cryptocurrencies, according to Silver. He called the internet “the most important technological innovation in the history of mankind,” noting that investors will be interested in investing in the web’s future.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“Crypto is obviously very popular, but it’s still got problems amongst institutional investors,” he explained. “…Web3 is a chance to get involved with the next innovations in the internet — even though crypto is a huge part of Web3 — without calling it crypto.”</blockquote>



<h3 class="wp-block-heading">The first of many?</h3>



Simplify Asset Management <a href="https://cms.blockworks.co/simplify-reveals-plans-to-launch-web3-etf/" target="_blank" rel="noreferrer noopener">filed last week</a> to launch a Web3 ETF that would invest in companies focused on or expected to benefit from “shifting the bases of technology infrastructure from a centralized self-hosted hardware infrastructure to a decentralized cloud infrastructure,” a regulatory filing states.&nbsp;



The US Securities and Exchange Commission (SEC) has not yet permitted an ETF directly investing in bitcoin to come to market. Regulators allowed bitcoin futures-based ETFs to launch in October, however.&nbsp;&nbsp;



But Tad Park, CEO of <a href="https://www.voltequity.com" target="_blank" rel="noreferrer noopener">Volt Equity</a>, which is the subadviser for the proposed Simplify Volt Web3 ETF (WIII), said that there is a whole side to crypto that doesn’t focus on bitcoin and its place as digital gold.



“You’re really investing in the ideas and the software and the future potential of what this can be used for,” he said of Web3. “&#8230;We really want to be first in providing that kind of access.”



Silver predicts that there will be about half a dozen Web3 ETFs in the next six months, adding that he expects one of the largest ETF issuers, such as BlackRock or State Street Global Advisors, to get involved. Such funds will “wake up” the venture capital and private equity communities to pay more attention to the space, he added.



<h3 class="wp-block-heading">A growing space</h3>



In addition to companies focused on Web3, the proposed Simplify fund would also invest in metaverse companies, according to the fund’s preliminary prospectus.



Several metaverse ETFs are already trading in the US, including Roundhill Investments’ Roundhill Ball Metaverse ETF (META), which launched in June and has $923 million in assets. In addition, fund managers <a href="https://www.sec.gov/Archives/edgar/data/0001364608/000144554621006106/etf2_485a.htm" target="_blank" rel="noreferrer noopener">First Trust</a> and <a href="https://cms.blockworks.co/proshares-files-for-metaverse-etf/" target="_blank" rel="noreferrer noopener">ProShares</a> filed for metaverse ETFs in December 2021.



<a href="https://cms.blockworks.co/defiance-co-founder-nfts-will-be-bigger-than-the-internet/" target="_blank" rel="noreferrer noopener">Defiance ETFs launched</a> its Digital Revolution ETF (NFTZ) in December. The fund is designed to offer exposure to the NFT, blockchain and cryptocurrency ecosystems by investing in NFT marketplaces and issuers.&nbsp;



“If there&#8217;s an NFT ETF there&#8217;s DEF going to be a Web3 ETF,” Bloomberg Intelligence Analyst Eric Balchunas said in a Jan. 3 Twitter <a href="https://twitter.com/EricBalchunas/status/1478160464844578818" target="_blank" rel="noreferrer noopener">post</a>. “Not endorsing either but this industry leaves no buzzword behind.”



Industry watchers have previously said that the equity ETFs within the crypto and blockchain technology segments have similar holdings, including non-pure play stocks.&nbsp;&nbsp;&nbsp;



But Volt’s Park noted that Amplify Investments’ Transformational Data Sharing ETF (BLOK) — the largest blockchain ETF, with about $1.1 billion assets under management — added crypto firms, such as mining companies, over time.&nbsp;



“It doesn’t have to be pure-play from day one,” he said.&nbsp;



Volt Equity will be monitoring Web3 companies that become public, Park added, and investing in such businesses may spur more to move toward the space.



“If they know that there’s more and more institutional interest in this whole field,” he said, “they may be more open to becoming part of it, using more Web3 and supporting the ecosystem.”



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