Robinhood has hired a former top Grayscale executive and former Ripple advisor

Online broker Robinhood has hired Benjamin Melnicki as its chief compliance officer. The WSJ reports this, citing a company spokesperson.

The new hire will join Robinhood Crypto’s cryptocurrency division. He will take the place of Scott Hershorin, who left the company in June to join Dragonfly Capital Partners as director of legal compliance.

Melnicki previously held a similar position at Grayscale Investments. Prior to that, he worked at Bank of America and as a regulatory advisor at Ripple Labs and Blockchain com.

A Grayscale spokeswoman confirmed Mielnicki’s departure in a comment to the publication and said the company is looking for a new employee to take his place.

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