Google APAC Web3 Division Appoints Former BlockFi Exec as VP
- The former executive at BlockFi, Rishi Ramchandani, has recently been chosen by Google Cloud to lead its web3 efforts in APAC.
- Ramchandani stated that his primary objective will be to expand Google’s Web3 initiatives in the Asia-Pacific market.
- Ramchandani is familiar with the region because, between June 2020 and December 2022, he was BlockFi’s Vice President for Asia.
The world’s largest tech firms are looking to find their way into the crypto and blockchain space and some have even recruited renowned crypto developers for the same. In the light of these events, it was announced that the former executive at the bankrupt crypto lending platform BlockFi, Rishi Ramchandani, has recently been chosen by Google Cloud to lead its web3 efforts in APAC.
Ramchandani recently wrote on LinkedIn that he is “excited” to begin working for the multinational technology corporation in his new position. His primary objective will be to expand Google’s Web3 initiatives in the Asia-Pacific market.
Notably, Ramchandani is familiar with the region because, between June 2020 and December 2022, he was BlockFi’s Vice President for Asia. His former employer, unfortunately, had been adversely impacted by the crypto winter and filed for bankruptcy protection at the end of November this year.
Managing Director for Google Cloud Customer, Partner Engineering, and Web3 GTM, Mitesh Agarwal, also shared the news and welcomed the new leader for the company’s APAC Web3 division, stating:
“Super thrilled to welcome Rishi Ramchandani to lead Google Cloud’s APAC efforts in Web3.”
Web3, a hot topic this year, has been an attractive sector for the world’s largest search engine. By enabling developers to create and use applications based on blockchain technology, Google Cloud has already shown ambitions to work in the Web3 ecosystem.
It also established a new team to assist and streamline developers’ field research operations earlier this year and argued that the sector demonstrates “tremendous potential.”
More information about the change was provided by Amit Zavery, Vice President at Google Cloud:
“We’re not trying to be part of that cryptocurrency wave directly. We’re providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises.”
FTX’s contribution in BlockFi’s demise
BlockFi, which laid off 20% of its employees in June this year, is one of the worst-affected platforms in the ongoing crypto winter. It obtained a revolving credit of $250 million from the once-leading crypto exchange FTX, but the recent demise of the latter disabled its operations later in November. As a result, the lending company suspended withdrawals and subsequently filed for bankruptcy.
The crypto lending firm has asked the United States Bankruptcy Court for approval to let customers withdraw their funds from their BlockFi Wallets. The company stated that the move is “an important step toward our goal of returning assets to clients” and added:
“It is our belief that clients unambiguously own the digital assets in their BlockFi Wallet Accounts. As such, we filed a motion requesting authority from the US Bankruptcy Court to allow clients to withdraw their digital assets that are held in their BlockFi Wallet Accounts. We will be seeking similar relief from the Supreme Court of Bermuda with respect to BlockFi Wallet Accounts held at BlockFi International Ltd.”
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
