Keith Grossman, president of TIME, has left the media firm to join crypto payments infrastructure firm MoonPay.
Grossman announced via Twitter that he is to become MoonPay's president of enterprise following a three-plus year tenure as TIME's president.
The move had been reported previously by CNBC.
Under his presidency, TIME embraced digital asset adoption, accepting crypto as a method of payment for subscriptions and holding ether (ETH) on its balance sheet as part of a deal with investment firm Galaxy Digital. The firm also launched its TIMEPieces Initiatve, a collection of non-fungible tokens (NFTs) showcasing original artwork.
MoonPay is a crypto payments infrastructure firm which allows users to exchange traditional fiat currencies and crypto using mainstream methods of payment such as debit cards, credit cards Apple Pay and Google Pay.
Grossman's move may demonstrate that despite the uncertain circumstances currently surrounding the digital asset industry, crypto and blockchain enthusiasm enthusiasm remains strong among many in established mainstream industries.
"I'm a contrarian by nature," Grossman told CoinDesk TV's First Mover on Monday morning.
"At the moment, while prices might be down, there's a lot of exciting things happening. In the last three months alone, you've seen Starbucks, Nike and Universal Studios enter the space, many of which have been done with MoonPay."
Grossman added that he expects TIME to remain in a strong position to continue its expansion into Web3 following his departure.
UPDATE (14:50 UTC, Nov. 28, 2022): Adds quotes from Grossman's CoinDesk TV appearance
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.