Fidelity, Schwab, Citadel-Backed Crypto Exchange EDX Markets Appoints New CEO

EDX
Markets,
the
institution-only
crypto
exchange
that
started
operations
in
June
2023
with
support
from
Wall
Street
giants
like
Fidelity,
Charles
Schwab
and
Citadel
Securities,
has
appointed
its
current
chief
technology
officer,
Tony
Acuña-Rohter,
as
CEO.

Wall
Street
veteran
Jamil
Nazarali,
the
founder
and
current
CEO
of
the
exchange,
will
move
to
the
position
of
executive
chairman
of
the
board,
according
to
a

press
release.

Acuña-Rohter
previously
served
as
the
chief
technology
officer
of
the
firm
since
joining
in
2022.
Before
EDX,
he
was
the
CTO
of
ErisX,
a
crypto
firm
acquired
by
Cboe
in
late
2021
that
led
to
the
start
of
Cboe
Digital,
the
crypto
arm
of
Cboe.

“I
am
proud
to
have
led
EDX
through
its
initial
start-up
phase
and
to
have
built
such
a
strong
team
of
leaders
and
operators
across
the
firm,”
said
Jamil
Nazarali,
Executive
Chair,
EDX.
“EDX
promptly
reached
significant
volumes
and
has
seen
a
growing
client
base
and
strong
institutional
and
retail
flows
since
launch.
Now
is
the
right
time
to
transition
operational
responsibilities
to
a
new
generation
of
leaders.”

EDX
announced
its
creation
in
September
2022
with
backing
from
major
investment
firms,
instantly
drawing
attention
to
the
new
project,
also
because
of
its
separation
between
the
exchange
function
and
the
broker
dealer
function.
The
crypto
exchange
differs
from
others,
because
it
doesn’t
custody
customers’
digital
assets
and
instead
forces
users
to
go
through
financial
intermediaries
to
buy
and
sell
assets.

The
platform
currently
offers
six
tokens
—
bitcoin
(BTC),
ethereum
(ETH),
litecoin
(LITE),
bitcoin
cash
(BCH),
shiba
inu
(SHIB)
and
dogecoin
(DOGE)
—
the
latter
two
which
were
added
in
November.

Trading
volume
on
the
platform
has
been
strong
as
of
late,
the
company
said
in
a

blog
post
in
November,
with
more
than
$36
billion
in
notional
volume
since
the
start
of
the
year.