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CJ Rinaldi is moving from Blockchain.com to Kraken

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Blockchain.com’s former Chief Compliance Officer, CJ Rinaldi, is moving into compliance-related services to Kraken as he becomes the company’s newest employee.

Recruitment from competing exchanges

Less than two months after Kraken, one of the world’s largest cryptocurrency exchanges, laid off around 1,100 employees, the central bitcoin (BTC) trading venue has hired CJ Rinaldi as its new compliance officer.

It seems that the need to “adapt to current market conditions” remains the reason for this hiring.

Since Stephen Christie, who oversaw global compliance at Kraken, left for Binance last May, the search has continued.

Rinaldi was most recently Chief Compliance Officer at Blockchain.com, serving from October 2021 to December 2022. Prior to his position at Blockchain.com, he served as Head of Market Compliance at Deutsche Bank Securities Inc.

Mr. Rinaldi’s previous positions include Senior Counsel in the Enforcement Division of the US Securities and Exchange Commission (SEC), as well as leadership positions at UBS Investment Bank and Bridgewater Associates.

Job hopping and intentional hiring in cryptocurrency

There is a trend of intentional recruitment in the coding and web3 spaces.

Google’s appointment of former BlockFi CEO Rishi Ramchandani to Genesis as restructuring advisor, right through to the Algorand Foundation’s appointment of a new global head of ecosystem growth, reveal a trend toward restructuring and growth facilitators to effectively compete with competitors and meet user expectations in the web3 space.

The experience and expertise of the new compliance officer will come in handy after Kraken’s recent fine of over $360,000.

Following his success at Blockchain.com, which expanded the global compliance framework, Rinaldi is expected to help Kraken stabilize after its leadership change and its decision to pull out of Japan.

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