ErisX Brings Ethereum Co-founder Joseph Lubin to Board

Chicago-based crypto exchange ErisX continues its hiring spree as the Wall Street-backed startup is beefing up its leadership ahead of launching its crypto spot and futures trading later this year.

The digital asset Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term has onboarded Ethereum co-founder Joseph Lubin, who also founded Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term development firm ConsenSys. Lubin is joining ErisX Board of Directors alongside entrepreneur Cris Conde.

ErisX has recently concluded a funding round raising more than $27 million from major financial institutions like Bitmain, ConsenSys, Fidelity Investments, and Nasdaq Ventures. The startup says it will offer investors the ability to trade Bitcoin, Bitcoin Cash, Ethereum, and Litecoin on spot and futures markets, subject to regulatory approval.

Lubin’s fortune dropped to less than $1 billion

Lubin, 53, helped launch many crypto businesses, some of which have spun off from ConsenSys where he serves as CEO and holds a majority stake.

Established in October 2014, ConsenSys is focused on building a growing ecosystem of developers that work on decentralized applications and infrastructure for the Ethereum blockchain. It also advises enterprises and governments globally.

According to Forbes estimates, Lubin’s fortune dropped to less than $1 billion from $5 billion in early 2018. The prolonged bear market also calls into question how long he can continue to fund ConsenSys, which is losing more than $100 million a year as almost all of its businesses are in the red, with few showing hope of profitability.

Commenting on his appointment, Joseph Lubin, said: “ErisX has a unique position in the market with support from a wide range of investors as well as experienced leaders at the helm. I look forward to bringing my experience with decentralized technologies and digital assets to a model that will further democratize access to digital assets. 2019 is likely to be a breakthrough year for digital assets, and the exceptional ErisX team is poised to lead.”

ErisX CEO Tom Chippas added: “As two leaders in the digital asset space, ErisX will benefit from the unique perspectives they offer and the enthusiasm they bring to the space. We also want to thank Cliff for the significant guidance and support he has provided, including helping shape the digital asset spot and regulated futures market.”