Former NYSE President Joins Uniswap Labs as Advisor

On Wednesday, Uniswap announced that former New York Stock Exchange president Stacey Cunningham would join the company as an advisor.

Cunningham started her career as a trader at the New York Stock Exchange, before becoming the exchange's first female president. In a statement, she said she believes Uniswap is committed to the potential of a fairer market. Uniswap stated that it hopes that her experience in TradFi will translate to DeFi to further help them develop their position in Web3. Cunningham is also listed as one of the BBC's 100 Women and will join the board of the New York Stock Exchange in December 2021.

Uniswap uses smart contracts to automate transactions between cryptocurrency tokens on the Ethereum blockchain. Uniswap is considered a decentralized exchange that utilizes liquidity pools, while Binance is a centralized exchange that acts as a market maker. Cunningham’s existing experience on the trading floor, trading traditional stocks, Nasdaq and the NYSE all seem relevant to Uniswap’s mission.

Back in May, Uniswap revealed that it had surpassed $1 trillion in transaction volume across roughly 4 million addresses. This puts the exchange ahead of other players in the crypto space such as Crypto.com and Kraken. The price of ETH on the DEX plummeted to $950 on Wednesday after whales dumped 93,000 ETH in six hours.