Tuesday, December 6, 2022
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Former Coinbase executive joins investment firm Blackstone as Senior Advisor in cryptocurrency

Blackstone, an investment firm managing $941 billion in investment, officially revealed the employment of Adam White, a former Bakkt and Coinbase executive, as Senior Advisor specialising in cryptocurrency in the company on August 17.

Adam White joins Blackstone

Before joining Blackstone, Adam White had extensive expertise as a top leader and pioneer in the crypto and blockchain development field. He will assist across Blackstone’s companies, with a focus on Blackstone Growth (BXG), the company’s growth equity investments platform. 

White went to the University of California, Davis for his Bachelor of Science in Optical Engineering. He was awarded a Bachelor of Science in 2006. After that, he worked as a Flight Test Engineer in the United States Air Force for about five years (2006-2011). During that period, he served in Iraq and Afghanistan too. In 2013, he received his MBA from Harvard Business School. 

From 2018 until 2022, White was President & COO of Bakkt, the provider of a software solution for virtual asset management. Bakkt built a digital wallet that interfaces with businesses such as Starbucks when he was there. The Starbucks partnership allows Bakkt customers to automatically sell their bitcoin to load up their Starbucks cards, effectively purchasing coffee with bitcoin. He was formerly Vice President and General Manager of Coinbase, where he was one of the first workers.

About Blackstone

Blackstone is the biggest alternative asset manager in the world. It aims to provide good economic impact and long-term benefits for its clients. On a worldwide scale, the company has $941 billion in assets under management including real estate, private equity, infrastructure, public debt & equity, life sciences, non-investment grade credit, opportunistic, growth equity, real assets, and secondary funds. The company has also invested in Chainalysis, a blockchain analytics business.

Blackstone into the crypto world

Blackstone’s move into cryptocurrency follows a significant change by BlackRock, a business that was founded under the Blackstone umbrella. On August 4, BlackRock announced a partnership with Coinbase to give its own clients with access to cryptocurrency, beginning with bitcoin. On August 11, BlackRock introduced a private trust for institutional clients that provides direct bitcoin exposure.


On the announcement, Vishal Amin, Managing Director at Blackstone Growth stated the followings:

“We are excited to welcome Adam as an advisor to Blackstone. He 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.”

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