The last week has seen the crypto recruitment merry-go-round kick up a gear with three major moves for blockchain companies. We round up the three big moves and what they mean for the companies involved.
Ripple Snags Goldman Sachs Veteran from Blockchain.com
Ripple has pinched Breanne Madigan, a former Goldman Sachs executive, from crypto wallet provider Blockchain.com as Global Head of Institutional Markets. Prior to joining Blockchain.com, Madigan was head of institutional wealth services at Goldman Sachs, having been with the bank for over 13 years before moving into crypto. The move is another blow to Blockchain.com, who lost Madigan’s predecessor, Jamie Selway, only four months ago having been with the company for just five months. The wallet provider had hoped to expand their institutional and OTC offerings, but these don’t seem to have materialized, hence the two high profile departures.
Galaxy Digital Hires Former Coinbase OTC Chief
In the second of the week’s big moves, Mike Novogratz’s investment firm Galaxy Digital has landed Coinbase’s former over-the-counter (OTC) desk chief Tim Plakas in an attempt to boost their own OTC efforts. While Plakas’ exact role is yet to be identified, it is anticipated that his experience in the OTC market is the key reason behind his move from the exchange. Plakas has been with Coinbase since July 2018, helping to cement their ambitions to get into the OTC arena, before Ben Floyd came in above him.
IBM Blockchain Finance Head Departs
The final big departure this week saw Jesse Lund, IBM’s global head of blockchain for financial services and digital currencies, leave the company. Few details have been forthcoming about Lund’s destination, but he can look back on his time with IBM’s blockchain division with pride, as they have gone from strength to strength since his arrival in 2017. In 2019 alone, IBM Blockchain has been used for customer identity verification in Canada, registry management in French courts, tracking usage of underground water, and tackling fake medicines in Africa.