Hedge fund Millennium Management has hired former Bitstamp executive Hunter Merghart to lead its digital asset infrastructure strategy, according to a source with knowledge of the matter.
- Merghart will join Millennium as its chief operating officer of digital assets to build out crypto infrastructure, the source said.
- Hiring a crypto industry veteran such as Merghart suggests that Millennium is looking to give its crypto plans fresh impetus.
- Merghart was most recently venture partner at crypto fund Castle Island Ventures, a position he had held since June 2021 having previously been head of operations for Bitstamp. He had also spent a year as head of trading for Coinbase in 2018-19.
- Millennium, which has over $53 billion in assets under management (AUM), has been eyeing expansion into the crypto market for some time. Last May, it was reported that the firm was standing up a crypto-focused trading fund and was hiring people for an operations team.
- The hedge fund declined to comment on the report.
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