Digital asset management and venture capital firm Arrington Capital named Bhavik Patel as its chief investment officer on Wednesday. Patel previously served as chief product officer and head of the derivatives business at crypto exchange BitMEX, which dealt with a CEO departure and staff cuts late last year.

"As the crypto markets mature and converge with traditional markets, it is critical to bring a mature and sophisticated perspective to our trading strategy. Representing just one pillar of how we deliver value to our investors, our liquidity and trading business will be elevated to a higher degree with Bhavik's leadership and institutional knowledge," said Arrington Capital founder Michael Arrington in a press release.

Patel’s work history also includes a role as APAC derivatives strategist for TK UBS and a number of training and risk management positions at European investment banks.

Arrington Capital was founded in 2017 by TechCrunch and CrunchBase founder Michael Arrington and TechCrunch CEO Heather Harde, and has grown to over $1 billion in assets under management. The firm’s investments include the flagship Arrington XRP Capital fund, the Arrington Algorand Growth Fund and the Arrington Moonbeam Growth Fund.

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