Michael Moro left the post of CEO Genesis Trading

The head of Genesis Trading, Michael Moro, left the company after seven years of work, including six-as a CEO of a cryptocurrency OTC platform.

In an interview with The Block, company representatives reported that Genesis Trading will reduce every fifth employee as part of “strategic priorities” – increasing the efficiency of business and general infrastructure, including areas such as risks, compliance with regulatory requirements and technology.

Temporary CEO is appointed Derar Islim. Moro will continue to advise the company during the transition period.

Ex-president of the SAC Capital and Point72 Asset Management Tom Conkhini will become the senior adviser to Genesis Tradition. It will help Islym in matters of strategy, trade, lending and risk management.

On July 17, the platform also appointed new directors in risk, compliance with regulatory requirements, legal issues, finance and technologies.

Recall that in July it became known that the Head Fund Three Arrows Capital owed Genesis Tradition $ 2.36 billion. The latter supported by her maternal company Digital Currency Group, which took on certain obligations.

Earlier, the head of Moro recognized that in https://gagarin.news/ June, the OTC platform eliminated the position of Three Arrows Capital.

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