Joey Krug is an American developer and investor finest recognized for co-founding Augur, one of many earliest decentralized prediction market protocols, and for his present position as a Accomplice at Peter Thiel’s Founders Fund, following six years as co-chief funding officer at Pantera Capital.
Who Is Joey Krug?
Joey Krug began programming in Applesoft BASIC throughout center college after his father purchased him an Apple II GS on eBay, an early publicity to coding that formed his later profession.
He studied Laptop Science at Pomona Faculty from 2013 to 2014 however didn’t full his diploma, selecting as a substitute to pursue entrepreneurial initiatives instantly. He started exploring Bitcoin mining in 2011 whereas constructing classic {hardware} together with his father.
For profiles of different builders shaping the Web3 business, go to our crypto personalities web page.
Joey Krug’s Profession and Contributions
Earlier than transferring totally into blockchain, Krug constructed a Bitcoin point-of-sale fee system in 2013, then briefly labored as a recreation developer at Darkish Paradise Studios earlier than founding MariPoS, a sound-based point-of-sale fee system in 2014.
In the identical 12 months, at age 19, Krug co-founded the Forecast Basis, the group behind Augur, a decentralized prediction market protocol constructed on Ethereum that lets customers wager on real-world occasion outcomes utilizing blockchain know-how.
Augur’s 2015 preliminary coin providing raised $5.7 million, and the protocol reportedly reached a market valuation of over $150 million in 2021. Krug additionally co-founded Beam.io, a cryptocurrency challenge impressed by conventional currencies.
Krug joined Pantera Capital in 2017 as co-chief funding officer and departed in February 2023 after a six-year stint. Throughout his time there, he led investments in early institutional rounds for firms together with Starkware, Arbitrum, and Alchemy.
Krug joined Founders Fund as a Accomplice in April 2023, as introduced in a Twitter submit the place he wrote: “I’ll be centered on defining the subsequent decade of Founders Fund’s crypto technique whereas in search of the subsequent wave of generational crypto startups and founders to again.”
Past Founders Fund, Krug co-founded Eco, a platform for spending, saving, and sending cash utilizing blockchain know-how. He has held advisory roles at a number of initiatives, together with 0x, Numeraire, and Codex Protocol, and served as a Founding Board Member at Increase Companions from 2016 to 2018. He’s a Thiel Fellow and an Edmund Hillary Fellow, started angel investing in 2016, and co-founded a top-ranked AngelList Syndicate.
Joey Krug’s Views and Positions
Krug has described his curiosity in know-how as rooted within the skill to translate concepts instantly into working code, a philosophy that runs from his early hobbyist programming by his prediction market and funds work.
At Founders Fund, he has framed his mandate as figuring out the subsequent technology of notable crypto founders and startups relatively than following current market narratives. Past his investing work, he stays an lively contributor to Pyethereum and participates within the Founders Pledge, a worldwide neighborhood of entrepreneurs dedicated to philanthropic giving.
Readers occupied with how decentralized functions like Augur match into the broader DeFi panorama can discover context in our protection of DeFi adoption progress.
Joey Krug’s Internet Price in 2026
Joey Krug’s internet value is estimated at $10 million, tied to his Augur ICO proceeds and token holdings, his compensation throughout six years at Pantera Capital, his stake in Eco, his angel investments, and his present position at Founders Fund. As a result of no unbiased wealth-tracking supply confirms this determine, it ought to be handled as a single-source estimate relatively than a verified quantity.
Often Requested Questions
Want a refresher? Listed here are the questions readers most frequently ask about Joey Krug.
What’s Joey Krug’s internet value?
Joey Krug’s internet value is estimated at $10 million, tied to his Augur holdings, his years at Pantera Capital, and his present position at Founders Fund. No different supply reviewed for this profile independently confirms this determine.
What’s Augur and what was Joey Krug’s position in it?
Augur is a decentralized prediction market protocol constructed on Ethereum that lets customers wager on real-world occasion outcomes utilizing blockchain know-how. Joey Krug co-founded the Forecast Basis, the group behind Augur’s improvement, in 2014 at age 19, and the protocol’s 2015 ICO raised $5.7 million.
Why did Joey Krug go away Pantera Capital?
Krug departed Pantera Capital in February 2023 after a six-year stint as co-chief funding officer. He joined Peter Thiel’s Founders Fund as a Accomplice the next April, specializing in the agency’s crypto funding technique.
What’s Eco?
Eco is a platform co-founded by Joey Krug that lets customers spend, save, and ship cash utilizing blockchain know-how, functioning like a digital pockets constructed on crypto infrastructure.
What has Joey Krug invested in by Founders Fund?
Krug’s 2024 investments by Founders Fund included Lava, Citrea, Caldera, Sentient, Avail, Polymarket, and Lagrange Labs, with deal sizes starting from $10 million to $85 million per deal. He backs Web3 and broader crypto ventures from seed by Collection B rounds.