Former SEC Commissioner Joins Bitfury as an Advisor


Related imageThe Bitfury Group has added two veterans to their board of directors and the advisory board, the company announced today. Antoine Dresch, co-founder of Korelya Capital is becoming a member of the board of directors of Bitfury Group, while Annette Nazareth, a former member of the U.S. Securities and Exchange Commission (SEC), is joining the advisory board.

Dresch will become a voting member of the Board, thus joining four existing board members – Valery Vavilov, George Kikvadze, Bob Dykes, and Bill Tai. He is regarded as a veteran in the banking industry, with more than 20 years of experience in serving in different posts at Goldman Sachs, UBS, and Morgan Stanley. In 2016, Dresch and business partner Fleur Pellerin founded Korelya Capital, a private equity fund dedicated to Europe’s most promising tech companies.

Nazareth, on the other hand, will work to “provide guidance on company growth and insight on financial markets and regulatory advancements”. She is known in the business as an experienced financial markets regulator and recognized authority on regulatory issues. Previously, she was a member of the SEC.

“We are thrilled to welcome Antoine to our board of directors and Annette to our advisory board. Antoine’s years of experience in investment banking and mergers and acquisitions will be valuable assets as Bitfury continues to grow. Annette will serve in a different capacity; as a trusted advisor, she will help guide and support Bitfury by offering her comprehensive knowledge on financial markets and regulation,” said Valery Vavilov, the CEO of Bitfury.

“I am delighted to be joining the Board of Bitfury, a leading technology platform in the Blockchain and AI space. I am thrilled to be working alongside a group of highly talented individuals, all animated by a great innovative spirit,” said Dresch. Nazareth added that she “could not be more pleased to have the opportunity to participate on the Bitfury advisory board alongside such knowledgeable individuals in the blockchain and cryptocurrency space.”

Newconomy recently reported about Bitfury completing a private round of financing worth $80 million. The cash will be used to fund hardware and software projects and objectives. The fundraising series was lewd by Korelya Capital, a Europe-based venture, but also included other global institutional and corporate investors such as Macquarie Capital, Dentsu Inc., Armat Group, Jabre and Lian Group, Argenthal Capital Partners, iTech Capital, MACSF and Foyer, and Galaxy Digital, a specialized digital asset merchant bank led by Mike Novogratz.