Peter Thiel-Backed Bitpanda Hires Checkout.com’s Ex-Major Law firm
Bitpanda GmbH, a cryptocurrency trade backed by billionaire Peter Thiel, has employed Olivia Broderick as chief lawful officer as the enterprise seeks to shore up investor assurance next the collapse of FTX.
Bitpanda hired Broderick as of this thirty day period to thrive former authorized main Oliver Stauber, who remaining more than the summer season, in accordance to the organization.
Founded in 2014 as a Vienna-based brokerage organization, Bitpanda operates during Europe and expanded into Eire. The company in November employed KPMG to audit its property in the aftermath of FTX’s US personal bankruptcy filing.
FTX’s demise prompted an sector reckoning above financial reporting procedures for non-public crypto corporations, as properly as how US accounting rulemakers audit and price freshly minted crypto tokens.
The privately held Bitpanda, valued in 2021 at roughly $4 billion, could be just one of many bidders for FTX assets, according to a Dec. 3 report by Bloomberg News. Thiel’s Valar Ventures aided guide a $263 million fundraising spherical for Bitpanda in 2021, as perfectly as a former round. Thiel is a previous Sullivan & Cromwell affiliate.
Bitpanda in a assertion touted the yrs of practical experience Broderick delivers in working with legal, chance, and business enterprise groups at banking and financial technological innovation providers.
Broderick most recently was typical counsel and head of regulatory for Checkout Ltd., a cloud-centered payments startup acknowledged as Checkout.com started by a university dropout prior to being valued at $40 billion a 12 months back.
Prior to signing up for Checkout.com in 2020, the London-centered Broderick used virtually 4 a long time as general counsel for U.K. online financial institution Zopa Team Ltd., getting beforehand spent far more than a ten years at British financial products and services huge Barclays PLC.
Brutkasten, an Austrian company publication, first documented Bitpanda’s retain the services of of Broderick before this month.
In June, Bitpanda cut hundreds of jobs as so-termed Crypto Winter—a reference to a period of extended drop in crypto markets—descended on the company and lots of of its market competition.
Checkout.com also announced in mid-September that it would get rid of 5% of its workers, or about 100 folks, amid a wave of place of work reductions in power to strike the fintech and crypto sectors.
Checkout.com did not reply to a request for comment about Broderick’s substitute. Nor did Da-Wai Hu, a former affiliate basic counsel at Amazon.com Inc. who in May possibly was named a New York-primarily based basic counsel for Checkout.com.
Broderick’s LinkedIn profile, exactly where she lately touted her new function at Bitpanda, shows she remaining Checkout.com in September.
