Another day, another executive leaving the institutional world for the blockchain industry. On Tuesday, Celsius Network – a blockchain-based borrowing and lending platform – confirmed that Ann LaCarrubba joined the company as General Counsel and Chief Compliance Officer.
“Ann is an incredible addition to our team,” said Celsius Network CEO, Alex Mashinsky. “From our inception, we have been focused on staying compliant because we believe that for the blockchain industry to go mainstream, staying compliant must be part of the solution.”
According to Celsius’ statement, LaCarrubba decided to jump ship after doing compliance work for the lender. Aside from enjoying working alongside Celsius’ staff members, it seems she also found the work itself interesting.
“The space is fascinating to me from a regulatory standpoint,” said LaCarrubba. “It is exciting to be part of a new frontier in both tech and finance. Being able to utilize my skills and be a part of this movement is an incredible opportunity for me.”
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Celsis – A Hub for Tech Nerds
Celsius is a financial technology start-up which, by using the fabled blockchain, allows its users to borrow US dollars using cryptocurrency as collateral. Members of the Celsius Network can also earn interest on their digital currency deposited with Celsius.
LaCarrubba will join a number of other technology experts at the firm. Mashinsky, the company’s co-founder and current CEO, was one of the inventors of Voice over Internet Protocol (VoIP).
In August of this year, W. Scott Stornetta joined the firm as an adviser. Stornetta is considered to be one of the founding fathers of blockchain having written a whitepaper discussing its potential uses way back in 1991.
LaCarrubba may not have been a technology inventor, but she has a plethora of experience in the institutional financial industry. Alongside a stint at Banco Popular North America, she worked for a number of years in senior compliance positions with Blackstone and American Express.