Stacey Cunningham, the former president of the New York Stock Exchange (NYSE), has joined Uniswap as an adviser as per the announcement on Wednesday by Uniswap.
She believes in the ability of Uniswap to remain committed and its potential to provide a fairer market. The exchange is working to move from its trading in TradFi to DeFi as part of the evolution into Web3.
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Cunningham’s Entrusted Experience
Cunningham started as a trader on the New York Stock Exchange. She worked her way up and later served as the first female president of the exchange. She has also been featured among 100 BBC women who joined the board of directors of NYSE in December 2021.
Uniswap is counted among decentralized exchanges and utilizes liquidity pools, which are opposed to Binance, which is a centralized exchange and serves as a market maker.
Uniswap’s mission of providing transparent and fair markets co-relates with Cunningham’s trading experience with several trading floors: trading traditional stocks on Nasdaq and NYSE. She has promised to work with Uniswap’s team to propel the exchange towards a better DeFi system.
The exchange has revealed that it had over $1 trillion by trade volume in about four million addresses in May. This achievement has placed it ahead of other crypto players like Crypto.com and Kraken.
TradFi executives Join DeFi Companies
Cunningham is not the only figure Uniswap Labs has hired recently. The company took Obama’s spokesperson, Hari Sevugan, as the new chief in communication in October 2021. Mary Catherine Lader was also taken in June as the first COO.
A trend has been noted among traditional finance executives moving to work at crypto companies, just like Uniswap’s hiring.
For instance, in February, Coinbase (COIN) hired the former Goldman Sachs (GS) partner to chair global financial operations. On the other hand, in March, the executive of longtime Citigroup joined Provenance Blockchain as CEO.
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