Apollo Global takes aim at blockchain, web3 after hiring JPMorgan's Christine Moy: Bloomberg

Private equity giant Apollo Global (NYSE:APO) has taken on Christine Moy, JPMorgan's (JPM) former blockchain chief, as its first head of its new digital asset strategy, the company said in a statement Thursday, as reported by Bloomberg. Christine Moy played a large role in JPMorgan's (JPM) blockchain initiatives. She most recently served as the bank's global head of Liink, a blockchain product. Meanwhile, Apollo (APO) “is best positioned to build and invest in the businesses that will propel us into the next phase of the web3 economy,” Moy said in an emailed statement, as quoted by Bloomberg. While Apollo (APO) is planning to invest in a variety of blockchain- and web3-focused projects for as much as $50M-250M each, it does not seek to invest in cryptocurrencies like Bitcoin (BTC-USD), John Zito, Apollo's deputy chief investment officer, told Bloomberg in an interview. “We’re looking beyond Bitcoin to real-world use cases like