Kavanagh will Lead the Company's Compliance Program Through a Pivotal Stage of National and International Expansion
CHICAGO, Oct. 7, 2021 /PRNewswire/ -- CoinFlip, a leading financial services platform focused on the digital economy, today announced that Colleen Kavanagh has joined as its new Chief Compliance Officer, effective immediately. Kavanagh will lead CoinFlip's Compliance Program and will supervise CoinFlip's BSA/AML Program, maintaining key relationships with both federal and state regulators. She will guide CoinFlip in building out its already robust AML and regulatory compliance programs as the company continues to grow and expand internationally.
"As CoinFlip grows globally, our commitment to compliance is stronger than ever," said Ben Weiss, CEO and Co-Founder of CoinFlip. "We are thrilled to have someone with Colleen's impressive experience on our team to help us navigate through the regulatory hurdles that come with being in a relatively nascent industry. Under her supervision, we will continue to be industry leaders in the compliance and regulatory space."
Prior to her role at CoinFlip, Kavanagh served as a senior executive in Morgan Stanley's Global Financial Crimes Group running the Financial Intelligence Unit and U.S. Investigations Unit where she held firm-wide, compliance responsibilities and was a member of numerous risk and control committees. Preceding her six years at Morgan Stanley,. Kavanagh was a Managing Director at Stroz Friedberg leading sensitive internal investigations on behalf of public and private corporations. Before Stroz Friedberg, Kavanagh served as an Assistant U.S. Attorney for over a decade holding several supervisory posts including the Chief of Public Integrity for the Eastern District of New York.
"The cryptocurrency industry is taking the spotlight both from a consumer standpoint and through the eyes of regulators," said Colleen Kavanagh, Chief Compliance Officer at CoinFlip. "I'm honored to join this incredibly determined and fast-growing company with the opportunity to innovate in the crypto space. As the industry sees more regulation at a federal and state level, I'm looking forward to providing my counsel and years of experience to help grow the team's products and services."
Kavanagh joins the company during a pivotal period of growth and achievement. Recently, CoinFlip was named the 2021 No. 1 fastest-growing company in Chicago by Crain's Chicago Business, with a 5-year growth rate of 1,715,091.9% and revenue of $50 million in 2020. The company was also ranked No. 60 on the Inc. 5000 – the highest-ranking crypto company included on the list. Over the past few years, the company has expanded to over 3,000 ATMs across 47 states, taking its place on the frontline of a financial revolution where cryptocurrency and blockchain technology can empower those who legacy financial institutions have left behind.
CoinFlip is a leading financial services platform focused on the digital economy. Founded in 2015, the company operates the world's largest network of cryptocurrency ATMs by volume with over 3,000 machines across 47 states supporting the buying and selling of major cryptocurrencies with cash. In 2020, CoinFlip launched Trade Desk, an over-the-counter trading service that provides investors with a personal account manager, access to the best coin prices, and offers recurring investments. The company does not charge hidden fees, cuts typical ATM transaction fees by half, and introduced 24/7 customer support, which has now become an industry standard.
Headquartered in Chicago, CoinFlip placed 60th on the 2021 Inc. 5000 list as the top-ranked cryptocurrency company, was named the 2021 #1 fastest-growing company in Chicago by Crain's, and was awarded the 2021 Silver Stevie ® Award for Customer Service. For more information about CoinFlip, please visit www.CoinFlip.tech.
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