The first bitcoin exchange to apply for New York’s BitLicense, itBit, has made two significant appointments to the company’s boards.
ItBit has appointed Jim Manzi, former Chairman and CEO of Lotus Development Corporation, to the company’s Board of Directors, and Ed Giorgio, a 30-year veteran of the National Security Agency (NSA) and co-founder of Ponte Technologies, to the company’s Advisory Board.
Chad Cascarilla, CEO and Co-Founder of itBit, commented:
Jim and Ed are important additions for itBit, which will benefit from their extensive expertise developing products and growing companies in the technology sector. Jim brings over twenty years of investment experience developing and advising technology companies, and Ed’s expertise in cryptography and cybersecurity will help ensure that itBit’s bitcoin exchange and our next generation of blockchain-based products remain the safest and most secure in the industry.
The pair comprise the latest additions to the company’s leadership team. In May, itBit added former FDIC Chairman Sheila C. Bair, former U.S. Senator Bill Bradley and former FASB Chairman Robert H. Herz joined the company’s Board of Directors.
- Jim Manzi
Jim Manzi is the former Chairman, President and CEO of Lotus Development Corporation. During his tenure, the company created Lotus Notes, a revolutionary software program, which was sold to IBM in 1995 for $3.5 billion. Through his investment company, Stonegate Capital, Manzi is involved in the development of a variety of technology start-ups. He is currently a director at Cargometrics, a quantitative investment management fund focused on proprietary global shipping information, and also serves as Chairman of Skyword, a content marketing company, and Chairman of Thermo Fisher Scientific, a scientific equipment manufacturer and service provider with revenues of $17 billion.
- Ed Giorgio
Ed Giorgio co-founded Ponte Technologies, a cybersecurity company which was recently acquired by KEYW. He spent 30 years as an NSA mathematician, where he spearheaded developments in cryptanalysis, communications security and public key cryptography. In addition to designing the NSA’s first public key based email encryption system, Giorgio is the only person to have served as both the U.S. chief codemaker and, subsequently, chief codebreaker.
While many bitcoin companies appear to be fleeing New York, itBit has applied for a New York BitLicense and established the itBit Trust Company, overseen by the New York State Department of Financial Services.
Co-founded in 2012 by CEO Charles Cascarilla, itBit has offices in two key financial markets, New York and Singapore, and is venture-backed by RRE Ventures, Canaan Partners, Liberty City Ventures and angel investors including Jay W. Jordan II and James Pallotta.