Keith Grossman: President Of Enterprise At Moonpay

In today’s digital age, the boundaries between the cryptocurrency world and traditional finance are gradually blurring, and prejudices against crypto are diminishing. This change is driven by the efforts of many individuals and organizations both within and outside the crypto market. However, when discussing significant efforts, one cannot overlook Keith Grossman. While serving as the Chairman of Time magazine, he led the century-old publication into the crypto market through a high-profile NFT collection. So, who is Keith Grossman? Let’s delve into it with CoinNerd in the following article.

Who Is Keith Grossman ?

Keith Grossman was formerly the Chairman of Time magazine and currently serves as the Chairman of MoonPay, a payment solution enabling users to purchase crypto and NFTs using credit or debit cards. Grossman’s expertise stems from years of experience at major organizations like Time magazine, Bloomberg, WIRED, and ArsTechnica

Keith Grossman was born into a relatively affluent family, facilitating a smooth educational path. After graduating from Cornell University, he found his passion in the field of media and decided to pursue it before stepping into the realm of cryptocurrency.

Prior to 2022, Keith Grossman held several prominent positions in major companies like Wired, Bloomberg, Engine, and Time Magazine. He is recognized as an open-minded leader, evidenced by introducing video news services at Bloomberg and leading Time Magazine into the Web3 world with the NFT collection TIMEPieces.

Moreover, for over 20 years, Keith Grossman has been an enthusiastic philanthropist. He has been on the board of New York Cares since 2018, contributing significantly to social volunteer activities. During his tenure at Time Magazine, he discovered a newfound passion for cryptocurrency and the blockchain’s applications in life. This led to his understanding of the revolutionary impact of blockchain and NFTs on the publishing industry.

Throughout much of 2022, Keith Grossman focused on devising comprehensive Web3 strategies for Time magazine, expanding its influence beyond the TIMEPieces NFT collection (housing magazine issues, historic moments, and captured artworks).

Keith Grossman materialized this by establishing the Intellectual Property arm within Time Studios. This division will delve into Web3 entertainment by collaborating with the young entertainment company Nelvana to introduce works from NFT artists like Pablo Stanley and Will Lee. Moreover, he opened B2B doors to aid traditional businesses in transitioning some of their operations to Web3.

This was evident through National Geographic’s NFT collection. Specifically, Keith Grossman played a role in transforming its 5 million X (formerly Twitter) followers into potential customers for the 1888-piece collection commemorating National Geographic’s 135th anniversary.

Keith Grossman & MoonPay

Despite his many successes in blurring the boundaries between traditional companies and the cryptocurrency market, Keith Grossman left Time magazine to join another fintech company due to his intense passion for crypto.

Specifically, in January 2023, Grossman resigned from Time and joined MoonPay, a company that builds cryptocurrency payment infrastructure. MoonPay provides users with the ability to directly convert between fiat and crypto, making the user experience more seamless. With MoonPay, users can purchase cryptocurrencies directly with credit cards, debit cards, and direct bank transfers.

In the past May, MoonPay faced conflicting public opinions due to financial transparency allegations. Specifically, The Information accused MoonPay’s team of pocketing over $150 million from the Series A fundraising round.

Back in 2021, during the crypto market’s surging growth, investment funds like Coatue Management and Tiger Global Management poured $550 million into MoonPay at a valuation of $3.4 billion. This infusion aimed at the project’s operations and development.

However, The Information’s investigation revealed that key MoonPay personnel privately pocketed $150 million, using it to buy out employees’ shares in the company. CEO Ivan Soto-Wright notably stands out, having acquired significant real estate shortly after the fundraising. Currently, both CEO Ivan Soto-Wright and MoonPay have yet to respond to these allegations.

Summary

Above are the details about Keith Grossman and his success in bridging traditional business models closer to the realm of cryptocurrencies. Through this article, CoinNerd aims to provide readers with the most comprehensive insights into Keith Grossman and his accomplishments throughout his career.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.