Gemini hires former Wall Street COO | Paxos leading the stablecoin race | Bitcoin whales are diverse

Bitcoin $6,596                     Ethereum $224.85 
Crypto Mkt Cap $218B               BTC Dominance 52.40%  

“The new refuge of the crypto scoundrels is blockchain, the technology underlying crypto that is now alleged to be the cure of all global problems, including poverty, famines and even diseases, [blockchain is ]nothing better than a glorified spreadsheet or database” — Nouriel Roubini, Professor NYU Stern

The Big Block

Gemini, the cryptocurrency exchange operator, is announcing later on Wednesday a big hire from the stock exchange world.

The firm, which was founded by the Winklevoss twins, in recent weeks brought on Jeanine Hightower-Sellitto, the former chief-operating officer of International Securities Exchange, the options marketplace acquired by Nasdaq in 2016. The Trade Crypto previously reported on the hire, but didn’t mention specific details about her role. 

Hightower-Sellitto, who originally joined ISE as a relationship manager in 2004, is now a managing director covering operations at Gemini. Her responsibilities span the firm’s numerous business lines, according to a person familiar with the hire. Still, her main focus is on enhancing the firm’s institutional aimed businesses to attract larger financial firms to the marketplace, the person said.

Read More on The Block (2 Minutes)

Around The Block

Paxos pulls ahead in the regulated stablecoin race

It’s only been a couple of weeks since all three regulated stablecoins began trading. Circle’s USDC was the last to join the party as it began trading two weeks ago. Paxos’ and Gemini’s stablecoins hit the market a month ago after they got thoroughly reviewed and approved by New York State Department of Financial Services (NYSDFS). — More

Chainalysis: Bitcoin’s largest holders are diverse

The blockchain analysis company recently released a report analyzing the 32 largest wallets on the Bitcoin blockchain. These wallets represent approximately one million bitcoins (~$6.5b at time of writing). According to Chainalysis, these wallets represent four basic types of bitcoin whales (individuals or entities that hold large amounts of bitcoin): Traders, Miners/Early Adopters, Lost, Criminals. — More

Binance de-listing causes 4 cryptocurrencies to instantly crash — More

Brazil among the top countries targeted with crypto-jacking software — More

Hackers exploit bug in Ethereum-based adult entertainment platform — More

Proof-of-work is efficient (The Block’s Contributor Network) — More

European market regulator to assess each ICO on case-by-case basis — More

Blockstream officially launches Liquid — More