Former Goldman COO & Ripple (XRP) Head of Markets joins TradeBlock as CEO
TradeBlock, one of the largest crypto index providers and trading platform for OTC markets, has announced that Breanne Madigan has joined it as the new CEO.
Ms. Madigan has previously been with Goldman Sachs and Ripple (XRP) before joining TradeBlock. She had been with Goldman for around 11 years where she had risen through the ranks from being an analyst to rising as the Head of Institutional Wealth Services for the Americas.
Later on, she moved to Ripple where she was the VP and Head of Global Institutional Markets since 2019. Now she joins TradeBlock as CEO and based on her experience, it is clear that the company would be looking towards her scaling the platform and making sure that it’s ready for large institutional inflows.
At the beginning of the year, TradeBlock had been acquired by Coindesk which has been pushing ahead with a lot of expansion in its leadership team as well as acquisitions in recent months. The crypto market has been growing during this period with more and more funds pouring in and also institutions showing a lot of interest as well. This has led to a lot of confidence in the market participants and financial firms who can now invest in new technology and expansion.
This is what we have been seeing over the last few months as the fintech services firms continue to push ahead with their upgrades and new offerings with an eye on institutional sales which generally end up being the largest slice of any business. It does make sense for the crypto industry, which has long been the domain of smaller retail traders and hence comparatively lower volumes, to now rush towards getting their platforms up and scaled for institutional flows as the interest grows in recent months.
This move from TradeBlock is also aimed towards the same goal as its indexes have already been gaining traction all around the world. It has access to high-quality data and this automatically makes it the choice of large institutions for research, data mining, and pricing. This makes it a valuable resource and its acquisition by CoinDesk does make sense as CoinDesk wants to position itself as a leader in the crypto world for news, media, and data as well.
Data and content in this generation are like the Oil of previous generations and hence are considered precious resources. Both CoinDesk and TradeBlock would be looking to maximize this potential and grow along with the massive uptick that is expected in the crypto industry.