Pantera Capital co-Chief Investment Officer Joey Krug has left the venture capital and investment firm, CoinDesk reported, citing a letter sent out to partners on Friday.
Krug joined Pantera Capital in 2017 and oversaw the firm’s early-stage token fund, which lost a considerable amount of its value last year. Krug recently said 2022 was a “very brutal year for risk assets.”
A new executive management committee will absorb Krug’s responsibilities, Pantera founder and Chief Executive Officer Dan Morehead wrote in the letter.
“While Joey is a friend and we are naturally sad to see him leave, we expect the transition to be seamless,” Morehead said.
Krug and Pantera did not immediately respond to requests for comment.
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