A Rochester cryptocurrency and blockchain firm will open a new Buffalo office led by a prolific Western New York tech entrepreneur.
Dan Magnuszewski has been named Chief Technology Officer of Foundry, a finance and advisory firm specializing in mining and staking digital assets. The company was founded in Rochester in 2019 and Magnuszewski will lead its expansion in Buffalo.
Magnuszewski is co-founder and former CTO of ACV, considered Western New York’s most successful start-up. The online vehicle auction platform is Buffalo’s first unicorn — a start-up valued at more than $1 billion — and went public in March 2021.
Magnuszewski worked as CTO of ACV until last fall, then moved into an advisory role. He announced earlier this month that he was leaving the company.
In his new role, Magnuszewski said he’s excited to “build Western New York into a thriving tech hub for cryptocurrency.”
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“I’m inspired to keep pushing Buffalo and Western New York forward as I embark on my next endeavor,” he said.
In addition to his work with ACV, Magnuszewski also led one of Western New York’s first tech incubators, Z80 Labs, and was an active angel investor in numerous growing startups.
Foundry will open an office in downtown Buffalo later this year, according to the company.
The expansion will bring new technology jobs to Western New York in areas such as computer science and software engineering. The company plans to hire talent from local universities, as it did in Rochester.