By David G.
Barry
Institutional
investors have been told by consultants that if they’ve invested in venture
capital funds, then they most likely have some exposure to cryptocurrencies.
Before long, investors may hear that if they are invested in private equity
funds, they too have exposure to crypto.
Blackstone, often an early mover, has appointed Adam White, a former
executive in the crypto and blockchain technology space, as a senior advisor.
In that role, White will advise the $941 billion investment firm – with an
emphasis on its growth equity investing platform, Blackstone Growth.
White was the former president of publicly traded Bakkt, which operates a
technology platform for the management of digital assets. He previously served as
vice president and general manager of Coinbase, which operates a cryptocurrency
exchange platform.
Blackstone said that it is focused on services and infrastructure supporting
the digital asset ecosystem. In 2021, it backed Chainalysis, a provider
of blockchain data and compliance software.
In a statement, Blackstone Growth Managing Director Vishal Amin said
that White “will help us think critically about the broader ecosystem for
digital assets, including the potential areas of disruption as blockchain
technology is applied to new sectors. Few people better understand both the
challenges and opportunities related to the industry.”