While many bitcoin companies are pulling out of New York State due to the implementation of BitLicense regulations, the New York based bitcoin exchange – itBit is busy expanding its team. The company has recently inducted two new board members. These new members are heavyweights in different domains.
itBit recently became the first digital currency business to receive BitLicense in the State of NY. The company provides an international platform for retail and institutional investors to buy and sell bitcoin. The new additions to itBit’s board includes Jim Manzi, who has previously served as the CEO and Chairman of Lotus Development Corporation and Ed Giorgio, a former spook who used to work of the National Security Agency (NSA) and is also the co-founder of Ponte Technologies.
Adding Jim and Ed seems to be a well-balanced move by itBit. While Jim is an expert when it comes to finance and management due to his 20 plus years of investment experience Ed is a seasoned cryptography and cybersecurity expert who can advise the company on various aspects related to security.
itBit has been slowly expanding its leadership team by adding many high profile individuals onto the board since past few months. Along with the recent addition of Jim Manzi and Ed Giorgio, other board members include Bill Bradley – a former United States senator, Sheila C. Bair – former chairperson of Federal Deposit Insurance Corporation and Robert H. Herz – former chairman of Financial Accounting Standards Board.
itBit was founded in the year 2013 in Singapore. The company has been expanding ever since. Recently the company announced reduction in fees and it is now listed on Bloomberg terminals. itBit is currently registered as a New York chartered trust company under the NY Banking Law and it has also received the required permissions from the NYSDFS to continue operating in the NY State.