<p>Joey Krug, former co-chief investment officer for Pantera, joined Peter Thiel's Founders Fund as a partner.</p> <p>Krug <a href="https://twitter.com/joeykrug/status/1647981342343286790" target="_blank" rel="noopener">announced</a> the move in a Twitter thread earlier today, saying that he'll be working on Founders Fund's crypto investment efforts. Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-04-14/thiel-s-founders-fund-hires-pantera-s-former-co-cio-joey-krug">reported the news earlier.</a></p> <p>It's a notable hire in the world of crypto venture capital. <a href="https://www.theblock.co/post/208607/pantera-exec-joey-krug-leaves-crypto-investment-firm-coindesk" target="_blank" rel="noopener">Krug departed Pantera</a> in February after a six-year stint at the VC firm.</p> <p>"I'll be focused on defining the next decade of Founders Fund's crypto strategy while looking for the next wave of generational crypto startups and founders to back," Krug wrote. </p> <p>Founders Fund was formed in 2005 by a group of PayPal co-founders including Peter Thiel. Its portfolio includes Facebook, AirBNB and SpaceX. Its crypto portfolio includes Ondo Finance and Block Green.</p> <p>Founders Fund <a href="https://www.theblock.co/post/203681/peter-thiels-fund-sold-bitcoin-holdings-as-downturn-intensified-fed-hiked-rates-ft" target="_blank" rel="noopener">drew headlines</a> in January after it netted nearly $2 billion from sales of its bitcoin holdings in 2022, according to a Financial Times report at the time.</p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>