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HomePress ReleaseLBank Labs Welcomes Valeria Kholostenko as Fund Principal

LBank Labs Welcomes Valeria Kholostenko as Fund Principal


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INTERNET CITY, British Virgin Islands, 11th February, 2023, Chainwire

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Venture capitalist fund and blockchain accelerator LBank Labs has announced the appointment of crypto pioneer and industry veteran Valeria Kholostenko as Principal.

LBank Labs is the venture capitalist arm of LBank, the global exchange with over 9 million users. Labs announced the formation of its fund of around 100 million USDT for investing in blockchain and web3 technology in late 2022.

Valeria Kholostenko said: “We are still developing the presence of LBank in the US, and LBank Labs will catapult that effort to build our brand. We anticipate 2023 is the year to connect with builders to sow the seeds of their ideas that will launch in the next 12 months. Given that we are a distributed team that works across all time zones, my goal is to identify and bring the most promising opportunities happening in the crypto space to LBank Labs.”

Czhang Lin, board member of LBank Labs, added: “We very much look forward to working with Valeria. She is highly respected by both innovators and investors in her area of expertise. With her impressive background and commitment to accelerating innovation and connecting budding companies with investors, she will no doubt make incredible contributions to this industry.”

The US-based Kholostenko has a background in driving innovation and connecting scaling companies with investors and web3 solutions. Kholostenko joined blockchain technology company ConsenSys in 2017 as Head of Development and Global Community in New York. She worked together with the Human Rights Foundation to bring resources and global platforms to activists.

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“Blockchain technology and crypto have made a profound difference in people’s lives worldwide, particularly in countries lacking basic access to financial products,” Kholostenko said.

After her stint at ConsenSys, the Ukrainian pioneer joined LUKSO Blockchain in Berlin to help the team develop their foundation. In the German capital, she worked closely with Fabian Vogelstellar, the creator of the ERC20 token standard. The company has since raised around $18 million dollars through its Reversible Initial Coin Offering tech (rICO).

Kholostenko also worked for Parity Technologies, leading education about Substrate, the framework that Polkadot is built on. Later she joined Reef Finance and eventually took over the CMO role in the firm. Kholostenko spent the last year as CMO of Astar Network, a leading parachain in the Polkadot ecosystem.

“Through my global venture network, I’ve raised over $10M for more than 15 blockchain companies built primarily on Polkadot and Polygon Networks,” Kholostenko said, reflecting on her experience of the last cycle.

As Principal for LBank Labs, Kholostenko will focus on identifying promising opportunities, connecting to schools and accelerators, seeking out fresh talent, and partnering with other funds.

About LBank
LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute the global adoption of cryptocurrencies.

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