Stacey Cunningham, former president of the New York Stock Exchange, has joined Uniswap as an adviser.
Cunningham most recently worked as the New York Stock Exchange’s first female president, from 2018 until 2021. Cunningham joined Uniswap Labs since “she believes in the possibilities of a decentralized exchange and in Uniswap’s dedication to fairer markets,” according to a Twitter thread.
According to a source familiar with the situation, Cunningham will focus on regulations for Uniswap’s position in DeFi.
Uniswap is banking on her TradFi knowledge transferring to decentralized finance (DeFi) to assist them in evolving their position in Web3 and understanding about DeFi better. “Cunningham was also named one of the BBC’s 100 Women and joined the NYSE board of directors in December 2021.”
Uniswap said that it had exceeded $1 trillion in trading volume over about 4 million addresses. This put the exchange ahead of other cryptocurrency exchanges, including Crypto.com and Kraken. On Wednesday, the price of Ethereum flash crashed to $950 on the decentralized exchange (DEX) after one whale dumped 93,000 ETH over the period of six hours.
Uniswap uses smart contracts to automate trades between cryptocurrency tokens on the Ethereum network. Uniswap is a decentralized exchange that uses liquidity pools instead of Binance. This controlled exchange acts as a market maker. Cunningham’s expertise on the trading floor, trading conventional equities, and trading on the Nasdaq and NYSE appear relevant.
The hire of Uniswap is part of an increasing trend of traditional financial professionals transitioning to work at crypto firms. Coinbase (COIN) recruited former Goldman Sachs (GS) partner Roger Barlett to lead global finance operations in February. Morgan McKenney, a former Citigroup (C) executive, joined Provenance Blockchain as its new CEO in March.
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