|Place of birth||Knoxville, IL|
|Alma mater||Pomona College, Didn't finish degree|
|Known for||Pantera Capital, Augur|
Joey Krug came on board hedge fund and investing outfit Pantera Capital in 2017 as the entity’s co-chief investment officer. Krug touts a deep interest and background in coding and sits as an adviser for a number of blockchain projects, including Ethereum-based decentralized exchange 0x, sharing economy project Origin Protocol and cryptocurrency Ampleforth.
In addition to his affinity for programming, Krug loves horses and betting on horse races, and he helped build blockchain-based prediction markets platform Augur, the first project to host an initial coin offering using the Ethereum blockchain.
In line with the decentralized finance boom of 2020, Krug anticipated further growth in the sector, as seen in Pantera’s investment intentions expressed in October. Based on Krug’s comments, Pantera allocated a large portion of the capital from its Digital Asset Fund to DeFi-related components.
Pantera also released a report in November suggesting that PayPal had spurred a Bitcoin supply shortage after announcing the inclusion of crypto assets on its platform. The firm also filed with United States regulatory authorities to raise more than $100 million in capital through selling equity.
Under Krug’s leadership, Pantera is poised to continue its interest in DeFi, given the sector’s increasing popularity. The entire crypto industry reached a total market capitalization of $1 trillion in early 2021, and this growth could ignite further innovation in the space, which Krug could find himself a part of, given his past contributions to blockchain projects. Likewise, the continued proliferation of the blockchain industry may provide Pantera with numerous investment opportunities in the coming year. Might Pantera reallocate even more of its capital to its DeFi products? Or will the year bring a surprise, under-tapped market to the forefront that Pantera will hone in on? Only time will tell.