Canadian crypto exchange Coinsquare announces leadership changes

Canadian crypto trading platform Coinsquare is shaking up its board of directors, the exchange announced Wednesday. 

According to an official announcement, executives Nicholas Thadaney and Wendy Rudd will join the board. Both have experience in Canadian securities regulation, investment dealer operations and regulated marketplaces, the announcement stated. 

Their appointments come shortly after Coinsquare confirmed Stacey Hoisak as its new CEO, Lawrence Truong as CCO and Eric Richmond as COO. This past summer, Coinsquare agreed to replace its CEO and CCO positions as part of a settlement with Ontario regulators. At the time, the Ontario Securities Commission said that the exchange "must implement substantial corporate governance improvements. These include establishing independent boards of directors, appointing new CEOs and CCOs, creating an internal whistleblower program and implementing policies and procedures to monitor and assess compliance with Ontario securities law."

“The measures we have taken are in strict adherence to regulatory requirements and demonstrate Coinsquare’s strengthened commitment to our clients, employees, shareholders, and the digital asset community," said Hoisak in a statement. "Our goal is to create a customer-centric safe place for Canadians to trade digital assets.”

The exchange made headlines in June after it said an internal theft in 2019 resulted in personal information of some of its customers landing in the hands of a hacker or group of hackers.