- Google stated that the Web3 industry had “tremendous potential.”
- Ramchandani expressed his excitement at joining the global technology firm.
Former BlockFi executive and now Google APAC Web3 Lead Rishi Ramchandani is a former of the cryptocurrency industry. Earlier this year, the biggest search engine in the world stated that the Web3 industry had “tremendous potential” and devoted a team to exploring it.
In a recent LinkedIn post, Ramchandani expressed his excitement at joining the global technology firm in his new position. Moreover, his primary focus will be on expanding Google’s Web3 initiatives throughout the Asia-Pacific.
Google Banking on Web3
Since Ramchandani was BlockFi’s Vice President for Asia from June 2020 to December 2022. He is quite acquainted with the region. However, his former company has been seriously rattled by the current crypto winter. And has filed for bankruptcy protection at the end of November.
Google’s new APAC Web3 head was greeted by Mitesh Agarwal, managing director of Google Cloud Customer, Partner Engineering, and Web3 Global Go-To-Market. Cloud services from Google have already signaled their desire to significantly increase their involvement in the Web3 ecosystem by facilitating the creation and usage of blockchain-based apps by developers.
BlockFi, one of the hardest hit by the extended bear market, laid off 20 percent of its workers in June. Its activities were severely hampered by the collapse of FTX. From whom it had acquired a revolving loan of $250 million. Around the middle of November, just before filing for bankruptcy, BlockFi temporarily halted withdrawals.
The cryptocurrency lender has recently petitioned the US Bankruptcy Court for approval to enable customers to access their funds stored in BlockFi Wallets.
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