Crypto.com Hires Exec to Further Firm’s Web3 Ambitions

Crypto.com plans to further its Web3 endevours at a time when interest in crypto markets has declined

article-image

Crypto.com Arena, another sports sponsorship struck by the digital asset exchange | Source: Shutterstock

share

key takeaways

  • Crypto.com is hoping to drive its Web3 ambitions across four product verticals with the addition of its newest executive
  • As managing director, Kwon Park will lead Crypto.com’s partnership developments and attempt to map out new business opportunities

Singapore-based exchange Crypto.com has named a new managing director to help guide the business’ Web3 ambitions.

Former Bittrex executive Kwon Park has been picked to lead the charge and will answer directly to Crypto.com Chief Operating Officer Eric Anziani, the company said Thursday.

The executive will also seek out new business opportunities and develop partnerships by leveraging his more than three years’ experience at Bittrex, in which he was both that exchange’s chief strategy officer and director of business development. He was also a board member of several Bittrex-affiliated companies.

Prior to joining Bittrex and Crypto.com, Park spent more than four years at US government affairs firm Delta Strategy Group as counsel. In that role, Kwon was involved in multiple industries across a range of areas including regulatory compliance, enforcement, business strategy and policy issues.

“Kwon brings tremendous expertise in developing and operationalizing complex opportunities across a range of disciplines and a deep understanding of how to effectively scale in the crypto industry,” Anziani said.

Crypto.com’s latest hire comes as the firm seeks to shore up its business opportunities amid a market downturn that has ultimately shaken the bottom line of many of the industry’s largest names.

The exchange has spent more than a billion dollars on marketing over the last 12 months, including a lavish ad in a prime-time slot during the Superbowl.

Crypto.com tapped NBA superstar Lebron James to front its commercial during that event as part of a multi-year deal to support Web3-related “educational and workforce development opportunities.”

Park is hoping to drive home the exchange’s Web3 strategy, recoup some of its marketing spend and further partnerships as it attempts to leverage the nascency of crypto’s newest sector.

That strategy involves leveraging products along four main verticals, including payment, financial services, trading, and the metaverse, according to the exchange’s white paper.

“This strategy creates and self-sustains a virtuous cycle: payment channels bring users onto the platform, whereas trading and financial services generate revenue that can be reinvested into payment and used to build the ecosystem to offer full-suite crypto services,” the white paper states.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

Silk Road founder Ulbricht made a triumphant return to the Bitcoin Conference, 10 years on from sentencing

article-image

A Blockworks Research report looked at who could take up some of the marketshare in the launchpad space

article-image

Business-to-business stablecoin payments are on the rise, per a report from Artemis, Dragonfly and Castle Island

article-image

Crypto continues to do its thing: incentivizing behavior

article-image

Kraken will soon offer Backed ‘xStocks’ as Solana tokens

article-image

In a unanimous decision, the US Court of International Trade has ruled that Trump’s IEEPA tariffs are unlawful