A former executive at troubled crypto lender BlockFi has landed a role at Google from Alphabet Inc. to work on Web3.
Rishi Ramchandani, who served as BlockFi’s vice president for Asia from June 2020 until this month, is joining Google as the APAC Web3 Lead, according to his LinkedIn profile as well as a post on the social media site of Mitesh Agarwal, a CEO focus on its cloud service customers, partner engineering, and a Web3-related effort.
Google Cloud aims to enable the Web3 ecosystem — which encompasses companies looking to build new web uses and applications on top of blockchain technology — by supporting development, transactions, storage and delivery of new products, a spokesman said last month by email. Its clients include top cryptocurrency and Web3-related companies, including Coinbase Global Inc., Dapper Labs Inc., Sky Mavis Inc., Nansen and Hedera, the spokesman said.
BlockFi filed for bankruptcy last month after Sam Bankman-Fried’s empire, including exchange FTX and trading business Alameda Research, collapsed rapidly. It sold about $239 million worth of crypto and warned nearly 250 workers that they would lose their jobs in the run-up to this event. A lawyer for BlockFi said it will seek to collect approximately $680 million owed to it by part of Bankman-Fried’s failed crypto universe.