tZERO announced that it has promoted Alan Konevsky as executive VP and Chief Legal & Corporate Affairs Officer, effective from March 2022.
In a recent press release shared with Finance Magnates, Alan Konevsky, a senior executive and general counsel with an integrated operational skillset, has been elevated by tZERO, an international leader in blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term technology for capital markets, to the appointment of Executive Vice President and Chief Legal & Corporate Affairs Officer.
Konevsky brings in excess of two decades of international experience to tZERO across a range of senior roles from Mastercard, Goldman Sachs, and Sullivan & Cromwell. In the new role, Konevsky will take on a number of responsibilities covering a range of strategic, corporate, legal, regulatory and other matters. Additionally, he will be involved in guiding tZERO’s growth strategy under David Goone’s leadership, who was recently named tZERO’s Chief Executive Officer.
A Snapshot of Konevsky’s Career
Prior to the statement, Konevsky has been fulfilling two positions at tZERO. Most recently, he took on the additional role of Interim Chief Executive Officer on top of his existing position as Chief Legal Officer and Board Secretary. During this period, he managed a broad cross-functional set of executive responsibilities, combining business and legal experience in financial services and other highly regulated industries, capital markets, technology, and strategy.
Currently, he is a member of the Board of Directors for the BostonSecurity Token Exchange LLC, which is tZERO’s joint venture with BOX Digital Markets LLC, as well as being a member of the (The Depository Trust & Clearing Corporation Private Securities Executive Advisory Board for the last year.
Earlier on, Mastercard recruited Konevsky where he spent more than four years. His last position was Senior Vice President and Division Counsel of Strategic Initiatives and Technology & Operations. Before this promotion, he satisfied the requirements of the post as Senior Vice President of the Lead Strategic Initiatives Counsel. Originally, he started in November 2014 as Senior Managing Counsel of M&A.
In addition, Goldman Sachs hired him as its Managing Director and Senior Counsel. For three years, he successfully accomplished the tasks of the position.
Konevsky spent the bulk of his career at Sullivan & Cromwell LLP working between New York and London for almost twelve years. He ended up spending the last four years as Special Counsel. Although, he completed the previous eight years as an Associate.
A Critical Role in tZERO’s Strategy and Operations
Commenting on the announcement, Matt Mosman, Chairman of tZERO’s Board of Directors and General Partner at Pelion Venture Partners, said: “Alan is a key member of the experienced tZERO team and as one of the longest-serving leaders at the company. He has played a critical role in tZERO’s strategy and operations, including during the leadership transition. Alan did a tremendous job in keeping the company humming during his interim leadership over the past months, and I look forward to watching him accelerate tZERO’s growth in his new role with the company together with David and the rest of the tZERO team.”
“I am delighted to be a part of tZERO and work with Alan to lead our talented team through the company’s next stage of growth and development,” Goone added.
Konevsky pointed out: “It has been an honor to steer tZERO’s business operations during the leadership transition. I have great personal and professional admiration for David and his accomplishments and am enthused to continue working with the tZERO team as we develop new markets and products that leverage
Leverage
In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders need to rely on leverage to make financial trading viable. Generally, the higher the fluctuation of an instrument, the larger the potential leverage offered by brokers. The market which offers the most leverage is undoubtedly the foreign exchange market, since currency fluctuations are relatively tiny. Of course, traders can select their account leverage, which usually varies from 1:50 to 1:200 on most forex brokers, although many brokers now offer up to 1:500 leverage, meaning for every 1 unit of currency deposited by the trader, they can control up to 500 units of that same currency. For example, if a trader was to deposit $1000 into a forex broker offering 500:1 leverage, it would mean the trader could control up to five hundred times their initial outlay, i.e. half a million dollars. Likewise, if an investor using a 1:200 leveraged account, was trading with $2000, it means they would be actually controlling $400,000, i.e. borrowing an additional $398,000 from the broker. Assuming this investment rises to $402,000 and the trader closes their trade, it means they would have achieved a 100% ROI by pocketing $2000. With leverage, the potential for profit is clear to see. Likewise, it also gives rise to the possibility of losing a much greater amount of their capital, because, had the value of the asset turned against the trader, they could have lost their entire investment.FX Regulators Clamp Down on Leverage Offered by BrokersBack in multiple regulators including the United Kingdom’s Financial Conduct Authority (FCA) took material measures to protect retail clients trading rolling spot forex and contracts for difference (CFDs). The measures followed after years of discussion and the result of a study which showed the vast majority of retail brokerage clients were losing money. The regulations stipulated a leverage cap of 1:50 with newer clients being limited to 1:25 leverage.
In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders need to rely on leverage to make financial trading viable. Generally, the higher the fluctuation of an instrument, the larger the potential leverage offered by brokers. The market which offers the most leverage is undoubtedly the foreign exchange market, since currency fluctuations are relatively tiny. Of course, traders can select their account leverage, which usually varies from 1:50 to 1:200 on most forex brokers, although many brokers now offer up to 1:500 leverage, meaning for every 1 unit of currency deposited by the trader, they can control up to 500 units of that same currency. For example, if a trader was to deposit $1000 into a forex broker offering 500:1 leverage, it would mean the trader could control up to five hundred times their initial outlay, i.e. half a million dollars. Likewise, if an investor using a 1:200 leveraged account, was trading with $2000, it means they would be actually controlling $400,000, i.e. borrowing an additional $398,000 from the broker. Assuming this investment rises to $402,000 and the trader closes their trade, it means they would have achieved a 100% ROI by pocketing $2000. With leverage, the potential for profit is clear to see. Likewise, it also gives rise to the possibility of losing a much greater amount of their capital, because, had the value of the asset turned against the trader, they could have lost their entire investment.FX Regulators Clamp Down on Leverage Offered by BrokersBack in multiple regulators including the United Kingdom’s Financial Conduct Authority (FCA) took material measures to protect retail clients trading rolling spot forex and contracts for difference (CFDs). The measures followed after years of discussion and the result of a study which showed the vast majority of retail brokerage clients were losing money. The regulations stipulated a leverage cap of 1:50 with newer clients being limited to 1:25 leverage.
Read this Term the secular relevance of digital infrastructure for institutional, retail and consumer ecosystems, including with cryptocurrencies, securities and NFTs.”
tZERO announced that it has promoted Alan Konevsky as executive VP and Chief Legal & Corporate Affairs Officer, effective from March 2022.
In a recent press release shared with Finance Magnates, Alan Konevsky, a senior executive and general counsel with an integrated operational skillset, has been elevated by tZERO, an international leader in blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term technology for capital markets, to the appointment of Executive Vice President and Chief Legal & Corporate Affairs Officer.
Konevsky brings in excess of two decades of international experience to tZERO across a range of senior roles from Mastercard, Goldman Sachs, and Sullivan & Cromwell. In the new role, Konevsky will take on a number of responsibilities covering a range of strategic, corporate, legal, regulatory and other matters. Additionally, he will be involved in guiding tZERO’s growth strategy under David Goone’s leadership, who was recently named tZERO’s Chief Executive Officer.
A Snapshot of Konevsky’s Career
Prior to the statement, Konevsky has been fulfilling two positions at tZERO. Most recently, he took on the additional role of Interim Chief Executive Officer on top of his existing position as Chief Legal Officer and Board Secretary. During this period, he managed a broad cross-functional set of executive responsibilities, combining business and legal experience in financial services and other highly regulated industries, capital markets, technology, and strategy.
Currently, he is a member of the Board of Directors for the BostonSecurity Token Exchange LLC, which is tZERO’s joint venture with BOX Digital Markets LLC, as well as being a member of the (The Depository Trust & Clearing Corporation Private Securities Executive Advisory Board for the last year.
Earlier on, Mastercard recruited Konevsky where he spent more than four years. His last position was Senior Vice President and Division Counsel of Strategic Initiatives and Technology & Operations. Before this promotion, he satisfied the requirements of the post as Senior Vice President of the Lead Strategic Initiatives Counsel. Originally, he started in November 2014 as Senior Managing Counsel of M&A.
In addition, Goldman Sachs hired him as its Managing Director and Senior Counsel. For three years, he successfully accomplished the tasks of the position.
Konevsky spent the bulk of his career at Sullivan & Cromwell LLP working between New York and London for almost twelve years. He ended up spending the last four years as Special Counsel. Although, he completed the previous eight years as an Associate.
A Critical Role in tZERO’s Strategy and Operations
Commenting on the announcement, Matt Mosman, Chairman of tZERO’s Board of Directors and General Partner at Pelion Venture Partners, said: “Alan is a key member of the experienced tZERO team and as one of the longest-serving leaders at the company. He has played a critical role in tZERO’s strategy and operations, including during the leadership transition. Alan did a tremendous job in keeping the company humming during his interim leadership over the past months, and I look forward to watching him accelerate tZERO’s growth in his new role with the company together with David and the rest of the tZERO team.”
“I am delighted to be a part of tZERO and work with Alan to lead our talented team through the company’s next stage of growth and development,” Goone added.
Konevsky pointed out: “It has been an honor to steer tZERO’s business operations during the leadership transition. I have great personal and professional admiration for David and his accomplishments and am enthused to continue working with the tZERO team as we develop new markets and products that leverage
Leverage
In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders need to rely on leverage to make financial trading viable. Generally, the higher the fluctuation of an instrument, the larger the potential leverage offered by brokers. The market which offers the most leverage is undoubtedly the foreign exchange market, since currency fluctuations are relatively tiny. Of course, traders can select their account leverage, which usually varies from 1:50 to 1:200 on most forex brokers, although many brokers now offer up to 1:500 leverage, meaning for every 1 unit of currency deposited by the trader, they can control up to 500 units of that same currency. For example, if a trader was to deposit $1000 into a forex broker offering 500:1 leverage, it would mean the trader could control up to five hundred times their initial outlay, i.e. half a million dollars. Likewise, if an investor using a 1:200 leveraged account, was trading with $2000, it means they would be actually controlling $400,000, i.e. borrowing an additional $398,000 from the broker. Assuming this investment rises to $402,000 and the trader closes their trade, it means they would have achieved a 100% ROI by pocketing $2000. With leverage, the potential for profit is clear to see. Likewise, it also gives rise to the possibility of losing a much greater amount of their capital, because, had the value of the asset turned against the trader, they could have lost their entire investment.FX Regulators Clamp Down on Leverage Offered by BrokersBack in multiple regulators including the United Kingdom’s Financial Conduct Authority (FCA) took material measures to protect retail clients trading rolling spot forex and contracts for difference (CFDs). The measures followed after years of discussion and the result of a study which showed the vast majority of retail brokerage clients were losing money. The regulations stipulated a leverage cap of 1:50 with newer clients being limited to 1:25 leverage.
In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders need to rely on leverage to make financial trading viable. Generally, the higher the fluctuation of an instrument, the larger the potential leverage offered by brokers. The market which offers the most leverage is undoubtedly the foreign exchange market, since currency fluctuations are relatively tiny. Of course, traders can select their account leverage, which usually varies from 1:50 to 1:200 on most forex brokers, although many brokers now offer up to 1:500 leverage, meaning for every 1 unit of currency deposited by the trader, they can control up to 500 units of that same currency. For example, if a trader was to deposit $1000 into a forex broker offering 500:1 leverage, it would mean the trader could control up to five hundred times their initial outlay, i.e. half a million dollars. Likewise, if an investor using a 1:200 leveraged account, was trading with $2000, it means they would be actually controlling $400,000, i.e. borrowing an additional $398,000 from the broker. Assuming this investment rises to $402,000 and the trader closes their trade, it means they would have achieved a 100% ROI by pocketing $2000. With leverage, the potential for profit is clear to see. Likewise, it also gives rise to the possibility of losing a much greater amount of their capital, because, had the value of the asset turned against the trader, they could have lost their entire investment.FX Regulators Clamp Down on Leverage Offered by BrokersBack in multiple regulators including the United Kingdom’s Financial Conduct Authority (FCA) took material measures to protect retail clients trading rolling spot forex and contracts for difference (CFDs). The measures followed after years of discussion and the result of a study which showed the vast majority of retail brokerage clients were losing money. The regulations stipulated a leverage cap of 1:50 with newer clients being limited to 1:25 leverage.
Read this Term the secular relevance of digital infrastructure for institutional, retail and consumer ecosystems, including with cryptocurrencies, securities and NFTs.”
Source: https://www.financemagnates.com/executives/moves/tzero-promotes-alan-konevsky-to-vp-and-chief-legal-corporate-affairs-officer/