Anthony Pompliano Nets $12.6M to Help Crypto Labor Liquidity, Buys Rival

Recruitment firm Inflection Points has helped over 1,000 people get jobs in the cryptocurrency industry, Pompliano said

article-image

Anthony Pompliano; Source: Shutterstock

share

key takeaways

  • Investors include Peter Thiel’s investment firm, Fifth Down Capital, former Palantir CFO
  • Pompliano’s plan to launch a crypto jobs marketplace surfaced in January 2021

Anthony Pompliano, founder of Pomp Investments, said his cryptocurrency recruitment firm Inflection Points has raised $12.6 million in funding and announced a deal to acquire a competitor.

In a Twitter thread on Wednesday, the entrepreneur said investors included Thiel Capital, Fifth Down Capital, XYZ Fund, former Palantir CFO Colin Anderson and real estate developer Marc Roberts. Andrew Spellman, Fifth Down Capital’s founder and managing partner, will join the Board of Directors. 

Separately, Inflection Points agreed to acquire New York-based crypto-focused recruiting firm Proof of Talent for an undisclosed sum. CEO Rob Paone said in a blog that Proof of Talent will continue to operate independently. “From the jobseekers perspective, there will be no meaningful changes,” he wrote.

Pompliano said his own firm has helped over 1,000 people score jobs in the cryptocurrency industry and upskilled more than 4,000.

Loading Tweet..

The platform is among a number of other Web3-based job boards including BlockAce, CryptoJobs and Crypto Recruit.

Blockworks reported Pompliano’s plan to launch a jobs marketplace in January 2021, when sentiment around cryptocurrencies was relatively more positive. He launched the business with co-founder Colton Sakamoto, and said the company was self-funded and grew quickly. “We are obsessed with profitability — that is the whole point of capitalism,” he wrote in a tweet.

Fundraising for their crypto jobs marketplace comes during a bear market as the industry faces a downturn triggered by stablecoin TerraUSD’s collapse and several firms facing a liquidity crunch. A chunk of well-known companies have had to reduce their workforce, including Coinbase, Gemini, BlockFi and Crypto.com.

Still, most venture capital firms are hunting for opportunities in the market downturn, as valuations are likely to be depressed. That’s one reason why money is still pouring into the industry.

“Business models like some of the larger crypto trading firms are going to endure, and the names on the doors may change as good risk management is revealed and bad risk management is punished,” Matthew Sigel, head of digital assets research at VanEck, said.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Templates.png

Research

ZKPs enable efficient offchain transaction processing and validation, resulting in increased throughput and reduced fees. Solana's ZK Compression leverages ZKPs to minimize onchain storage costs, while Sui's zkLogin streamlines user onboarding by replacing complex key management with familiar OAuth credentials.

article-image

The crypto asset manager lowered its planned fee from 0.25% to 0.15%, undercutting its competitors

article-image

Plus, a look at planned ETH ETF fees and how they differ from their BTC counterparts

article-image

North Korea suspected in breach of Indian exchange’s multisig wallet

article-image

Plus, Sanctum’s CLOUD token has officially launched — but not without problems

article-image

It’s not yet clear whether Donald Trump is pumping bitcoin. But an unofficial memecoin is still seeing benefit.