Citigroup's Head of Digital Assets Departs for Crypto Venture

Shobhit Maini, a 14-year veteran of Citigroup, has left the bank to pursue opportunities in the cryptocurrency industry.

Maini, who led the bank's digital assets unit within its markets division, is said to be launching an entrepreneurial venture in the crypto space.

According to an internal memo obtained by Reuters, Maini's departure is effective immediately. No further details about his new venture have been disclosed.

Maini's exit marks a notable departure for Citigroup, which has been actively exploring the potential of digital assets. Under Maini's leadership, the bank had established a digital asset desk and was participating in various blockchain initiatives.

Citigroup's decision to hire Maini in 2021 was seen as a sign of the bank's growing interest in the crypto market. However, the recent downturn in the cryptocurrency market may have prompted Maini to seek new opportunities.

Maini's move to the crypto industry reflects the growing allure of the sector for financial professionals. As digital assets gain wider acceptance, it is likely that we will see more talent migrating from traditional finance to the crypto space.