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Bitstamp, a cryptocurrency exchange, has landed a slew of traditional finance hires

Robert Zagotta, the CEO of Bitstamp USA, claims that personnel from traditional banking firms have expressed strong interest in new opportunities. “One of the reasons this is beneficial to us is that it increases the diversity of the talent pool.”

The crypto business has a reputation for being dominated by men, with Bain Capital Ventures. While, receiving backlash on Twitter after recruiting an all-male founding team for a forthcoming crypto fund. Stefan Cohen, a Bain Capital Ventures executive. Thereby, apologized and promised to hire more women and minorities as a result of this.

The crypto business isn’t alone in its lack of diversity; prominent U.S. banks are under fire for their male-dominated leadership structures. Then, and are under pressure to elevate more women to senior positions. Jane Fraser, the CEO of Citigroup Inc., is the first woman to run a major American bank.

In 2022, the percentage of women hired at Bitstamp USA increased to 60%, up from 37% in 2021.

Senior banking personnel have lately jumped the fence from traditional finance (TradFi) to crypto firms, causing a brain drain on Wall Street. So, Many of these new crypto recruits have gone on to hold significant positions in the sector.

Mel Tsiaprazis, Bitstamp’s CCO, previously worked at Lloyds Banking Group, while Sabrina Wilson, Copper’s chief operational officer. Of course, previously worked at Citigroup as the co-head of futures, clearing, and foreign currency.

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