Genesis Trading’s chief technology officer Pat DeFrancesco is no longer with the cryptocurrency trading and lending firm, according to a source familiar with the move.
DeFrancesco, a veteran of the trading technology world, joined the firm in June 2019. He previously worked as the chief technology officer and chief operating officer at 7Chord, a firm that develops AI systems for the corporate bond market. Earlier in his career, he was the head of information systems and later chief technology officer at Creditex, which Intercontinental Exchange acquired in 2008.
As The Block reported in 2019, DeFrancesco was originally brought on to help build out the firm’s technology infrastructure and quantitative research. CEO Michael Moro hinted at building out an integrated platform where trading and lending could be accessed through a single GUI.
Genesis is one of the largest trading firms in the multi-trillion-dollar crypto market. According to its most recent quarterly report, Genesis traded more than $37 billion across derivatives and spot in Q3.