Michael Alexander will head Block.one’s venture capital arm, with a focus on developing projects that rely on the firm’s EOSIO blockchain software.
Enthusiasm for virtual currencies has waned partly due to a string of cyber heists, including the nearly $500 million theft from Japanese exchange Coincheck Inc. in late January.
The new factory will manufacture various Mercedes-Benz products in China, including new energy electric vehicles.
This is the biggest one-month loss in dollar terms in the short history of digital assets.
Bitcoin has climbed more than 40 percent over the past two weeks.