$5.1 Billion Pension Fund CIO Joins Non-profit Organization Focused on Bitcoin Adoption

As we speak, the Proof of Workforce Basis, a 501(c)(4) tax-exempt nonprofit group, has introduced the addition of two distinguished members to its Board of Administrators: Ajit Singh and Raphael Zagury, in line with a press launch despatched to Bitcoin Journal. This duo is being introduced on to additional strengthen the Basis’s mission to advertise significant, education-based Bitcoin adoption amongst workforce organizations.

Ajit Singh joins the board from his present function as Chief Funding Officer of the Houston Firefighters Reduction and Retirement Fund, a $5.1 billion pension fund and the primary within the U.S. so as to add Bitcoin on to its steadiness sheet in 2021. Singh has additionally served because the Chief Danger Officer and Deputy CIO for the United Nations Joint Workers Pension Fund (UNJSPF), managing a world pension fund with roughly 144,000 members throughout 25 UN member organizations.

“As establishments proceed to find out about Bitcoin, I’m excited to convey my expertise to the Proof of Workforce Nonprofit Board of Administrators,” Singh said. “Bitcoin was created for on a regular basis staff, with its best attributes found by means of significant studying. Proof of Workforce is well-equipped as a dependable useful resource for any group, establishment, state or metropolis, in pursuit of a powerful and wholesome workforce.”

Raphael Zagury, the Chief Funding Officer and Head of Analysis at Swan Bitcoin, additionally joins the board. Zagury is understood for creating The Nakamoto Portfolio, an open-source software program instrument that demonstrates Bitcoin’s affect on fund portfolios. His in depth background consists of co-founding Open Co, a number one Brazilian fintech, and holding govt roles at Goldman Sachs, Deutsche Financial institution, and Merrill Lynch in New York.

“This dynamic addition to our Board of Administrators positions us as a high-level, world useful resource for any pension fund, labor union, workforce group or authorities physique fascinated by significant, education-based, Bitcoin adoption,” said Proof of Workforce Founder and President, Dom Bei. “Ajit and Rapha be part of us with an awesome abundance of expertise in each Bitcoin and conventional finance. From Ajit’s work in 2021, as the primary CIO of a U.S. Pension to introduce Bitcoin immediately into it’s portfolio, to Raphael’s creation of the primary open-source portfolio analytics instrument for Bitcoin on the steadiness sheet, our board’s expertise in Bitcoin firsts has been broadly deepened.”

Proof of Workforce has already made vital strides in selling Bitcoin adoption. The Basis performed a pivotal function in serving to the Vacaville Firefighters develop into the second union within the U.S. to buy and maintain Bitcoin on its steadiness sheet, and helped the Humboldt Bay Firefighters develop into the third union to take action. And internationally, the Basis assisted the Salvadoran firefighters affiliation, AproBomberos, in additionally holding Bitcoin on their steadiness sheet.

JUST IN: 🇸🇻 Salvadoran firefighters affiliation AproBomberos now formally holds #Bitcoin on their steadiness sheet 👏 pic.twitter.com/4kiORBRbf1

— Bitcoin Journal (@BitcoinMagazine) February 24, 2024

The Basis’s board, which incorporates distinguished Bitcoiners Joe Carlasare, Lisa Hough, Chris Alaimo, and Magdalena Gronowska, boasts various experience in regulation, vitality, multimedia, and mining. Moreover, the Basis introduced that Josh and Dan of Blue Collar Bitcoin will probably be stepping down from the board, however will stay concerned with the group, and thanked them for his or her management and assist whereas on the Basis.

Proof of Workforce Basis says it offers all companies for gratis. Extra details about the group may be discovered on their web site right here.