ADAM’s Board and Membership Expands as Digital Asset Market Integrity Standards Stimulate Conversations in Washington
FTX, FTX US, Multicoin Capital and Robinhood Crypto Welcomed to Board and Nine New Members Expand ADAM Roster as Policymakers Continue to Focus on Digital Asset Industry
WASHINGTON, February 17, 2022 /PRNewswire/ — The Association for Digital Asset Markets (“ADAM” or “the Association”) today announced that cryptocurrency exchanges FTX and FTX US, digital asset investment firm Multicoin Capital and cryptocurrency trading platform Robinhood Crypto have joined ADAM’s board of directors. directors as the Association continues to expand its diverse membership and forge new strategic partnerships. ADAM’s growth comes at a critical time as the burgeoning digital asset industry continues to spark conversations among lawmakers and regulators, underscoring the need for sophisticated standards and effective representation of the industry in washington d.c.
“This expansion reflects an increased appetite among digital asset players to set the industry standard for ethical conduct in the marketplace and engage in sophisticated outreach to Washington. The leadership of Robinhood Crypto, FTX, FTX US and Multicoin Capital as board members and our new roster of members will be invaluable in furthering ADAM’s mission to promote efficient, fair digital asset markets. and orderly,” said ADAM’s Chairman of the Board and Head of Digital Assets. at Hudson River Trading, Brad Vopni. “Recent activity in Washington showed that the digital asset industry must be organized and proactive to nurture positive engagement with legislators and regulators. Moreover, it is necessary to establish standards in this new field. Our mission is more important than ever, and our Board of Directors, our members and our strategic partners are essential to our success. »
ADAM is the industry’s leading standard-setting and self-regulatory association, which seeks to create a stronger and more efficient marketplace for digital assets. With a broad-based membership structure inspired by a self-regulatory organization, each member of the association agrees to adhere to the ADAM Code of Conduct – a set of global principles that promote integrity, fairness and order in digital asset markets; complements existing regulations; and is widely accepted as the global market standard.
“We believe in ADAM because it is important to advance the discussion around a clear regulatory framework for digital assets and establish industry best practices,” said Sam Bankman Fried, CEO and Founder of FTX. “As digital asset markets continue to grow and innovate, it will be crucial to ensure that key market players actively participate in policy discussions to create an environment where technology can thrive and consumers are protected. “
“Multicoin Capital is proud to join the ADAM Board of Directors alongside other like-minded companies who are equally committed to market integrity. We all share the common goal of advancing the coin industry. digital assets and believe it is imperative that the companies within them play a role in shaping the principles that guide innovation and market activity,” said Kyle Samanico-founder and managing partner of Multicoin Capital.
“We are extremely excited about joining ADAM. There is a lot of work to be done to advance a regulatory framework for digital asset markets, and we look forward to joining ADAM’s efforts,” said Dan GallagherChief Legal & Corporate Affairs Officer at Robinhood.
ADAM’s new leadership and expanded membership further solidifies the Association as the leading standards body for digital asset markets at a time of heightened industry scrutiny.
ADAM’s membership list includes leading companies in the industry. Organizations joining ADAM include CoinFund, the Digital Asset Council of Financial Professionals, Hxro Foundation, Robinhood Crypto, Solidus Capital, and Symphony as new members, in addition to Anderson killsMayer Brown LLP and McGonigle, PC as strategic legal partners.
“At CoinFund, we are excited to help shape the future of blockchain so the world can realize the promise of web3. In line with this, standards and policies matter. We look forward to working with the ADAM team to advance these initiatives in Washington and beyond,” said Chris PerkinsPresident of CoinFund.
“I strongly believe that crypto markets are the way of the future. However, there is still work to be done to enable governments to open up markets to a wider retail audience. I am excited to be part of this organization that expands market and consumer protection,” said Eric EdelmanCEO of the Digital Assets Council of Finance Professionals and a leading independent financial advisor.
“Decentralized finance and crypto derivatives are rapidly growing areas that now require policy guidance and standard setting. The Hxro Foundation looks forward to embarking on this journey with ADAM and its members to work collaboratively with policymakers to establish guidelines and consumer protections that also allow the industry to evolve and grow,” said Dan Gunsbergco-founder and director of the Hxro Foundation.
“As market infrastructure evolves, we are excited to partner with ADAM to shape and evolve the future of digital asset markets. At Symphony, we are committed to standardizing, automating and innovating financial services workflows and digital assets are a key piece of the puzzle,” mentioned Brad LevyCEO of Symphony.
“Market integrity is critical to broader adoption of digital assets. I look forward to implementing the ADAM code and continuing to find ways to make the market work better,” said Betsabe BotaitisCEO of Solidus Capital.
“The next few years will be critical in ensuring the development of an appropriate regulatory framework for digital assets. We are excited to work with ADAM on its important policy and standard-setting mission,” said Stephen Palleypartner and president of Anderson Kill’s Technology, Media and Distributed Systems Group.
“ADAM is responsible for building trust in the digital asset market and has a strong focus on it. I look forward to working with its members to promote integrity, fairness and efficiency in the financial markets of the future,” said stephen ganonpartner and shareholder at McGonigle, PC
About the Association for Digital Asset Markets (ADAM)
The Association for Digital Asset Markers is a private, not-for-profit association of companies operating in digital asset markets and is a standards body and self-governing association committed to promoting market integrity and best practices. ADAM works with leading financial firms, entrepreneurs and regulators to develop industry best practices that facilitate fair and orderly digital asset markets. In this vein, ADAM’s objectives are to: (1) protect market participants against fraud and manipulation; (2) provide clear standards for efficient trading, custody, clearing and settlement of digital assets; (3) encourage the professionalism and ethical conduct of market participants; and (4) increase transparency and provide information to the public and governments in digital asset markets. With this in mind, ADAM published a principles-based code of conduct at the end of 2019 that establishes certain standards of professional conduct for ADAM members.
ADAM consists of a broad industry group that includes a wide variety of market participants, including trading platforms, custodians, investors, asset managers, traders, liquidity providers and brokers. ADAM members are companies that are active in digital asset markets or seek to participate in such markets. ADAM members include: Anchorage Digital, NA; BitGo; BitOoda; BlockFi; BTIG; Digital CMT; CoinFund; cumberland; Digital Asset Advisory of Finance Professionals; Dunamis Trading; Eventus systems; firewall; FTX.com; FTX.us; digital galaxy; Genesis; Shades of grey ; RSG; HRT; Hxro Foundation; Multicoin Capital; Oasis Pro Markets; Parataxis; Paxos; Robinhood Crypto; Sarson Fund; Solidus Capital; Symbiote; Symphony; Tree of Wisdom; and XBTO. ADAM Law Firm partners include Anderson kills; DLA Piper; DLx law; Mayer Brown LLP; Morgana Lewis; and McGonigle, PC.
ADAM media contact
Group M Strategic Communications (for ADAM)
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SOURCE The Association for Digital Asset Markets