- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2022-08-18T18:45:00
Crypto broker Genesis Global Trading announced Wednesday that Chief Executive Michael Moro is stepping down as the company shakes up its leadership following layoffs totaling 20 percent of its 260-person workforce.
With the departure of Moro, Chief Operating Officer Derar Islim was appointed interim CEO as the company conducts a search for a full-time replacement. Moro will continue to advise the company through the transition.
Genesis also announced the appointments of Michael Patterson as chief compliance officer, Michael Patchen as chief risk officer, Alice Chan as chief financial officer, and Arianna Pretto-Sakmann as chief legal officer.
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Virtual currency brokerage firm Genesis Global Trading agreed to pay an $8 million penalty levied by the New York State Department of Financial Services for alleged compliance failures that left it vulnerable to illicit activity and cybersecurity threats.
Capital One promised very high interest rates on millions of savings accounts but the bank didn’t deliver, losing customers more than $2 billion, the Consumer Financial Protection Bureau alleged.
In tandem with the Commerce Department’s Bureau of Industry and Security, the Biden administration issued a new rule on export controls of domestically produced artificial intelligence chips.
