Cunningham previously served as the first "big board's" president.
On June 15, Uniswap, an ETH decentralized finance (DeFi) platform, stated that it would enroll the former NY Stock Exchange (NYSE) president Stacey Cunningham as an adviser to help the platform explore possibilities in Web3.
The ex-president chose to join Uniswap due to its dedication to fairer markets as “she believes in the potential of decentralized exchange.”
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Reportedly, Cunningham, who previously served as the first female president of the New York Stock Exchange for 3 years, will be responsible for regulating Uniswap’s function in decentralized finance (DeFi).
The news comes amid current crypto turmoil and recent dropouts in the crypto community. For instance, on June 14, crypto exchange Coinbase announced that it would lay off a significant portion of its workforce - around 1100 employees.
It seems as though a particular pattern is emerging as a number of traditional finance execs are shifting to various crypto-related organizations. For instance, back in February, Roger Barlett, executive director at Goldman Sachs, joined Coinbase, whereas later in March, Morgan McKenney, Longtime Citigroup executive was enrolled by Provenance Blockchain as its new CEO.
Uniswap, founded in 2018, is the world’s largest decentralized crypto exchange that provides users the ability to quickly and safely perform automated transactions using ERC-20 tokens on the Ethereum (ETH) blockchain.
Earlier in April, Uniswap launched a venture capital fund to invest "in teams at different stages and levels of the web3 stack." The venture was backed by Teo Leibowitz, who is also the Strategy Lead at Uniswap, and MC Lader, Uniswap's Chief Operating Officer.
In other news, earlier in June, Celsius (CEL) hired professional lawyers to receive some help in solving its financial problems after the network got in some serious trouble when it decided to freeze its withdrawals.