Google of Alphabet Inc. is advancing its Web3 endeavours by making continuous upgrades. The latest move in this respect is the appointment of a former crypto executive of the embattled crypto lending firm named BlockFi. The executive has obtained a position at Google to operate on the Web3-related initiatives of the platform.
Google Hires BlockFi’s Former Crypto Executive for Its Web3 Initiatives
The respective person is named Rishi Ramchandani and has been working at BlockFi since 2020’s June through the current month as its Vice President (VP) for Asia. Now, Ramchandani is leaving his role at the beleaguered crypto lender to work under Google as APAC Web3 Chief, as mentioned in his profile on LinkedIn. This was also posted on Mitesh Agarwal’s (Google’s managing director for cloud service-related consumers) post on his social media platform.
BlockFi Requests US Court to Resume User Withdrawals
BlockFi, which is also known as one of the early affected entities due to the debacle of the crypto exchange FTX, has recently asserted that it intends to provide frozen assets to clients. The lender has thus submitted a petition under a US court, requesting to permit a few users to take out their crypto assets in the digital wallets on the BlockFi platform, as per a press release made on Tuesday. Such a request has also been made by BlockFi International Ltd (BlockFi’s non-US arm) to the Supreme Court of Bermuda.
The firm halted the client withdrawals on the 10th of the previous month. After that, it submitted a filing seeking bankruptcy protection apart from its 8 other associates. This was witnessed after the bankruptcy filing of Sam Bankman-Fried’s FTX. Nonetheless, while expressing that the clients are prioritized by the platform, BlockFi is endeavoring to give them their funds back.