Tim Plakas, once head of over-the-counter (OTC) trading at Coinbase, has left the exchange to bolster Galaxy Digital’s OTC efforts, according to a source close to the situation. It is not yet clear what Plakas’ position will be within Galaxy’s OTC unit.
Coinbase has yet to publicly name Plakas’ successor, and did not comment in time for publication. Plakas joined the firm in July 2018. He previously held positions at Citigroup in equity sales and trading and investor relations. The Fordham University graduate served seven years in the United States Air Force, according to his LinkedIn profile. His exit follows a number of other departures in Coinbase's institutional unit, including Christine Sandler, who left to join Fidelity earlier this year, and Hunter Merghart, who recently joined rival exchange Bitstamp.