Joey Krug Resigns from Pantera to Join Founders Fund as Partner

According to reports, Joey Krug resigned as the co chief investment officer of Pantera, a crypto venture capital firm, in February of this year and announced on Monday that he had joined Founders Fund as a partner. The San Francisco Founders Fund was founded in 2005 by a group of well-known partners, including billionaire entrepreneur Peter Thiel. The company invests extensively in all stages and industries, with investment portfolio companies including Lyft, Facebook, SpaceX, and Stripe.

Former Joint Chief Investment Officer of Pantera Joins Founders Fund and Becomes a Partner

Introduction

Joey Krug, one of the co-chief investment officers of Pantera, a crypto venture capital firm, has left the company and joined Founders Fund as a partner. This move has caught the attention of many since Pantera is a well-known crypto investment firm, and Founders Fund has a reputation for investing in big tech names like Facebook and SpaceX.

Who is Joey Krug?

Joey Krug is a recognized crypto investor and entrepreneur. He co-founded Augur, a decentralized prediction market platform that operates on Ethereum, which is currently the largest prediction market in the world. He has been crucial to building Augur’s decentralized network, and his innovative solutions and research have been integral to the growth of decentralized finance (DeFi).

Why Did Joey Krug Resign from Pantera?

Though no specific reason was disclosed, reports indicate that Krug resigned as co-chief investment officer of Pantera in February 2021. It’s likely that Krug’s incredible talent and innovative solutions in the DeFi space created an opportunity for him to expand his horizons beyond Pantera. Krug’s expertise in this area made him a desirable candidate for any company looking to gain an edge in the emerging DeFi industry.

What is Founders Fund?

Founders Fund is a venture capital firm based in San Francisco. It was founded in 2005 by a group of partners that included Peter Thiel, billionaire entrepreneur and co-founder of PayPal. Founders Fund invests in companies in various stages and industries, with a focus on startups with disruptive technologies. The Fund has invested in numerous successful tech companies, including SpaceX, Lyft, and Airbnb.

Wrapping Up

Joey Krug’s resignation from Pantera and his new role as a partner at Founders Fund underscores the rapidly evolving nature of the crypto industry. It’s clear that decentralized finance is more than a trend and is here to stay. The fact that Founders Fund is turning its eye to Krug and his expertise in DeFi is a massive signal that the DeFi industry is gaining increased recognition and investment.

FAQs

#What is decentralized finance?

Decentralized Finance (DeFi) is a movement to build financial systems that operate on a decentralized network, instead of the traditional centralized structures in the current financial system.

#What is a prediction market platform?

A prediction market platform is a tool for individuals to speculate on possible future events. These platforms allow users to create and trade prediction shares about the probability of future outcomes.

#Who else has left Pantera Capital?

Joey Krug is not the only person who has left Pantera. Dan Morehead, the founder of Pantera, recently stepped down from his role as co-chief investment officer. Other high-profile departures include Paul Veradittakit, who will be starting his DeFi fund, and Joey Krug’s brother, Bret Krug, who is starting an NFT-focused investment fund.
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