On Wednesday, Uniswap announced that former New York Stock Exchange president Stacey Cunningham will join the company as an adviser.
Cunningham served as the first female president of the New York Stock Exchange after beginning her career as a trader on its floor. She said in a statement that she believes in the potential of Uniswap’s commitment to fairer markets. Uniswap is betting on her experience with TradFi translating over to decentralized finance (DeFi) to further help them evolve their place in Web3. Cunningham has also been listed as one of BBC’s 100 Women and joined the NYSE board of directors in December 2021.
1/ We are beyond honored to welcome Stacey Cunningham @stacey_cunning, former president of the New York Stock Exchange @NYSE, as an Advisor to Uniswap Labs.— Uniswap Labs (@Uniswap) June 15, 2022
Uniswap enables automated transactions between cryptocurrency tokens on the Ethereum blockchain using smart contracts. Uniswap is considered a decentralized exchange utilizing liquidity pools as opposed to Binance, a centralized exchange serving as a market maker. Cunningham’s existing experience with the trading floor, trading traditional stocks, the Nasdaq and NYSE all appear to be relative to Uniswap’s mission.
Back in May, Uniswap revealed it had surpassed $1 trillion in trade volume across roughly 4 million addresses. This placed the exchange ahead of other players in the crypto sector such as Crypto.com and Kraken. On Wednesday, the decentralized exchange (DEX) saw the price of Ethereum flash crash to $950 after a whale dumped 93,000 ETH over the course of six hours.