Cryptocurrency exchange Bitstamp has hired Stephen Bearpark, a former finance director at tech giant Amazon, as its chief financial officer.
In an announcement on Wednesday, Bitstamp said it would be appointing Bearpark to the executive position where he will be responsible for overseeing the financial growth of the exchange. Bearpark worked at Amazon’s EU Transportation division in Luxembourg for more than three years and was a finance director at financial services company Barclays until 2008.
“By bringing Stephen onboard, Bitstamp is continuing to bring in the best talent from the biggest names in tech to help us deliver new value to users as mainstream adoption of cryptocurrencies continues,” said Bitstamp CEO Julian Sawyer.
The former Amazon executive said the "crypto industry is booming," with massive growth over the past year and especially in the first quarter of 2021. This month, the combined market capitalization of all cryptocurrencies hit a landmark number — $2 trillion — to make the market more valuable than tech giant Apple.
Bearpark described his position at Bitstamp as coming at a "pivotal point" in the industry. He will purportedly be replacing group chief financial officer Edward Kemp, who left the company last month.
Bitstamp is one of the oldest exchanges in the crypto space, with business entities based in several countries. In the last year, the company has changed key positions in its leadership, with former Gemini executive Julian Sawyer becoming the firm's new CEO and Sameer Dubey its chief operating officer.