Bitstamp hires former Kraken COO as US CEO

London-based cryptocurrency exchange Bitstamp has hired Robert Zagotta, former CCO at rival Kraken

, as its U.S. general manager. Sponsored Sponsored

Prior to his role as chief commercial officer at Kraken, Zagotta was a member of the executive team at financial exchange and markets operator CME Group Inc. Zagnotta said

,

I want to expand our product offering, both in terms of listed assets and other value-added products that make life and trading

easier for our customersSponsored Sponsored Sponsored

In announcing the hiring of Zagotta, Bitstamp also noted that the inflow of new customers increased by 570% in the first half of 2021. Over the same period, assets under management grew 281%. Targeting the US market with its global strategy, Bitstamp is taking on names like Coinbase, Gemini and Kraken.

Bitstamp Expansion

One of the oldest cryptocurrency exchanges in the world, Bitstamp has revealed that it will be expanding into the US market just earlier this year. The expansion takes advantage of the recent growth for Bitstamp mentioned above.

The company’s upcoming commitment to the U.S. is a four-pronged strategy that includes building key institutional partnerships, establishing a digital investment infrastructure, exploring the expansion of institutional trust and derivatives offerings, and hiring U.S. talent.

Global Cry

ptocurrency Exchanges

Meanwhile, as cryptocurrency markets struggle, other global cryptocurrency exchanges are currently doing quite differently. For example, the world’s largest cryptocurrency exchange by volume, Binance, has come under regulatory scrutiny from several fronts

.

After launching its exchange tokens in April, Binance found itself under the watch of German regulator BaFin. They were considering whether the offerings were securities, in which case a prospectus was missing. After this event, Binance’s fortunes got even worse. Several regulatory agencies around the world said that the platform could no longer operate in their countries. Meanwhile, the pressure experienced by the exchange forced Binance to <a href=”https://beincrypto.pl/binance-wstrzymuje-handel-tok

enami-action-with-immediate-effect/”>to stop selling exchange tokens immediately.

On the other hand, cryptocurrency derivatives exchange FTX has just completed a fundraising round that values it at $18 billion. The exchange raised $900 million during its Series B investment round.

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