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The vice president of cryptocurrency and Web3 protocol development at investment firm Paradigm Capital has left the company. It was about the fact that Tal Broda decided to leave the team and leave the organization. He announced this to his already former colleagues in an internal corporate note at the end of February 2023.
“Despite the fact that I strongly believe in the mission of Paradigm Capital and in the company’s ability to realize its vision, I have decided that the leading engineering position in this organization is no longer suitable for me at this stage in my life,” Broda said. His departure was another shock for one of the largest investment funds in the cryptocurrency industry.
The fact is that since the end of 2022, Paradigm Capital has lost several key engineers and other specialists at once. They were forced to leave the team amid a protracted crisis in the industry. According to a spokesperson for Paradigm, the downturn in the cryptocurrency market has led to the downsizing of several internal projects at the firm.
The company had to cut costs. In this regard, part of the staff, including highly qualified specialists, was dismissed.
Company representatives recalled that Broda joined the Paradigm Capital fund not so long ago. He became a member of the team less than a year ago in April 2022. The specialist remained in office until mid-March of this year and has only now announced his resignation publicly. Prior to that, he assisted in the day-to-day management of the engineering team.
Prior to joining Paradigm Capital, Broda led the platform at Citadel Securities. He led large engineering teams of more than 50 people. “I decided to take advantage of an opportunity that is more in line with my previous experience,” he wrote.
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