Digital Asset-Focused Bank Protego Trust Names Ron Totaro as CEO

Protego added Bitfury’s CEO to its board of directors in February.

AccessTimeIconSep 12, 2022 at 11:00 a.m. UTC
Updated May 11, 2023 at 4:22 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Protego Trust Bank named financial services veteran Ron Totaro chief executive officer as the bank continues its push to serve institutional clients in crypto and digital assets.

Totaro’s most recent role was CEO at Tassat Group, a blockchain-based tech firm focused on digital payments.

  • Key Events You Shouldn't Miss at Consensus 2024
    02:13
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    11:19
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    13:29
    Will Solana and Altcoins Dominate the Market Next?
  • What's Next for FIT21?
    07:15
    What's Next for FIT21?
  • In 2021, Protego raised $70 million in a Series A with investors including crypto exchanges Coinbase (COIN) and FTX as well as Digital Currency Group, the parent company of CoinDesk. In May, Protego was reportedly looking to raise more money in a Series B round that would have valued the firm at $2 billion.

    Earlier this year, Protego appointed former acting controller of the Office of the Comptroller of the Currency (OCC), and current Bitfury CEO, Brian Brooks and former Ally Financial CEO Michael Carpenter to its board of directors. The OCC granted Protego Trust a conditional federal charter in 2021 allowing Protego to custody digital assets.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Author placeholder image

    Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.