Citi's co-head of digital assets quits to start new crypto venture

Citigroup's (NYSE:C) Co-head of Digital Assets, Alex Kriete, said Thursday he is leaving the commercial bank to start a new business in the decentralized space. Kriete spent less than a year in his crypto role at Citi, but 11 years at the lender overall. Prior to his entry in the industry, Kriete spent over three years as senior vice president and investment counselor at Citi Private Bank. Kriete added that he will reveal more details about his new venture in the next few weeks. "I believe digital assets will continue to grow in importance to global capital markets and the formation of new business models, and I could not be more excited to assist in the maturation of this market," Kriete wrote in a LinkedIn post. In Nov. 2021, Citigroup said it will hire 100 staffers to accelerate its blockchain and crypto division.