ItBit Adds NSA Veteran to Advisory Board

A 30-year-veteran of the US National Security Agency (NSA) has joined the board of advisors at New York-based bitcoin exchange itBit.

With the announcement, Ed Giorgio joins a board of advisors that includes Josh Rosner, managing director at research firm Graham Fisher & Co; Kang Global Investors managing partner Richard Kang; and Aitken Advisors founder James Aitken.

In addition to Giorgio, itBit also appointed Jim Manzi, former CEO of Lotus Development Corporation, to its board of directors. The software industry veteran joins former FDIC chairman Sheila Bair; former US Senator Bill Bradley and Stonegate Capital's Jim Manzi in a move that expands the board to six members.

In statements, itBit CEO Chad Cascarilla suggested the appointments will add expertise in key areas as the exchange seeks to expand its foothold in New York and the US.

Cascarilla said:

In May, itBit announced it had closed $25m in new fundraising, an announcement perhaps overshadowed by its acquisition of a New York banking charter that allows it to offer bitcoin exchange services in the state.

The move preceded an announcement by rival Gemini that it would pursue a similar path to the market and comes amid news that many of the current largest bitcoin exchanges don't plan to offer services in the US state, which is the third-largest by population.

NSA image via Shutterstock