Kraken Bitcoin Exchange Taps Fidor Bank’s Stadum as New General Counsel

Edward Stadum, who as US General Counsel to Fidor Bank did an external audit of Kraken, joined its management team.

Kraken, one of the largest Bitcoin, Ethereum and digital asset exchanges, today announced the appointment of venture capitalist and fintech advisor Edward M. Stadum as General Counsel.

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Stadum joins Kraken’s management team after a post as US General Counsel to Fidor Bank, a German online direct bank that supports Kraken’s euro business. He said: “At Fidor I was tasked with conducting a thorough external audit of Kraken. After combing through every detail, I grew more and more interested in the remarkable opportunities ahead for Kraken and for the digital currency market, so much so that with Fidor’s consent I left the bank to join the client full time.”

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Stadum will offer specialist advice in Kraken’s cryptocurrency domain, with particular emphasis on best business practices, corporate governance, finance, acquisitions, strategy, technology and regulation. Jesse Powell, CEO of Kraken, said: “Edward Stadum’s 50 years worth of experience in banking, technology, law and venture capital will serve Kraken in key markets in North America, Europe and around the globe.”

Stadum added: “Kraken is already at the center of this growing industry and I look forward to helping Jesse and the team elevate a thriving startup into a lasting, professional trusted financial enterprise globally.”

Powell gave a final comment saying: “It says a lot that Ed wanted to join the team after seeing what was ‘under the hood’ while conducting an audit of Kraken. In fact, having a window into how things work at Kraken made him even more interested in joining our exchange, which is a good sign that we have a solid foundation and that we’re on the right track for long-term success. We look forward to leveraging his five decades worth of experience as we further develop Kraken.”

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