Martin Piszel has been named the new CEO of Toronto-based crypto-trading platform Coinsquare.
Piszel co-founded the Alpha ATS, and has worked at CIBC World Markets and E*Trade Canada. Most recently, he was head of corporate development at Tradelogiq Markets Inc.
“My extensive capital markets experience will help accelerate Coinsquare’s ongoing goal towards being a fully regulated entity, and strengthen its market position as Canada’s most trusted digital asset exchange,” Piszel said in a release.
Piszel replaces Stacey Hoisak, who steps into the role of president and chief legal officer of Coinsquare.
“Coinsquare is entering a new phase in its development and growth as we move ever closer to regulation and to strengthening our position as Canada’s leading digital asset trading platform,” said Jason Theofilos, chairman of Coinsquare’s board.
The hiring comes a year after Coinsquare reached a settlement with the Ontario Securities Commission over allegations that it engaged in wash trading to inflate its reported trading volume and retaliated against a whistleblower who attempted to report the misconduct.
As a result of that settlement, Coinsquare had to overhaul its corporate governance, including establishing an independent board and appointing a new CEO and chief compliance officer.
The firm’s then-CEO, Cole Diamond, and then-president, Virgile Rostand, both stepped down and were effectively banned from being involved with Coinsquare for three years. The company’s chief compliance officer at the time, Felix Mazer, was banned for one year.