On Aug. 19, Gemini and BitGo, two major forces in the cryptocurrency space, have announced their new high-profile hires. The continuous expansion of these companies is solid proof that the crypto winter has already thawed.
Winklevoss-led Gemini has appointed David Damato to serve as the exchange’s new Chief Security Officer (CSO). Damato, who recently held the same executive position at the leading cybersecurity company Tanium, appears to be a natural fit for the industry that is rampant with hacks.
CipherTrace recently estimated that bad actors could pilfer up to $4.5 bln worth of cryptocurrency by the end of 2019. This fact won’t sit well with regulators who are becoming increasingly interested in the nascent asset class.
Security is the bedrock of our culture, and Dave adds to that legacy," said Tyler Winklevoss, CEO of Gemini.
Crypto custody rivalry
Meanwhile, BitGo, one of the leaders in the cryptocurrency custody business, has announced
that Xapo’s Pete Najarian will now work as its Chief Revenue Officer (CRO). Najarian will be tasked with streamlining the company’s global sales strategy.
Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services,” said BitGo CEO Mike Belshe.
Xapo was considered to be one of the main rivals of BitGo in the custody niche. However, as reported by U.Today, it recently ceded ground to Coinbase in order to focus on its retail exchange business.