Crypto ATM Operator Coinflip Appoints Colleen Kavanagh as Chief Compliance Officer

Job Appointments | October 11, 2021 By:

Crypto ATM operator Coinflip has appointed Colleen Kavanagh as the company’s new Chief Compliance Officer.

Founded in 2015, Coinflip operates the world’s largest network of cryptocurrency ATMs by volume with over 3,000 machines across 47 states supporting the buying and selling of major cryptocurrencies with cash.

Prior to her role at CoinFlip, Kavanagh served as a senior executive in Morgan Stanley’s Global Financial Crimes Group running the Financial Intelligence Unit and U.S. Investigations Unit. Kavanagh’s experience and expertise will help guide CoinFlip during a time of rapid growth and expansion as the company continues to chase its goal of making crypto more accessible to everyone.

Kavanagh will lead CoinFlip’s Compliance Program and will supervise CoinFlip’s BSA/AML Program, maintaining key regulatory relationships with both federal and state regulators, effective immediately.

“As CoinFlip grows globally, our commitment to compliance is stronger than ever,” said Ben Weiss, CEO and Co-Founder of CoinFlip. “We are thrilled to have someone with Colleen’s impressive experience on our team to help us navigate through the regulatory hurdles that come with being in a relatively nascent industry. Under her supervision, we will continue to be industry leaders in the compliance and regulatory space.”

Kavanagh joins the company during a pivotal period of growth and achievement. Recently, CoinFlip was named the 2021 No. 1 fastest-growing company in Chicago by Crain’s Chicago Business, with a 5-year growth rate of 1,715,091.9% and revenue of $50 million in 2020. The company was also ranked No. 60 on the Inc. 5000 – the highest-ranking crypto company included on the list.

“The cryptocurrency industry is taking the spotlight both from a consumer standpoint and through the eyes of regulators,” said Colleen Kavanagh, Chief Compliance Officer at CoinFlip. “I’m honored to join this incredibly determined and fast-growing company with the opportunity to innovate in the crypto space. As the industry sees more regulation at a federal and state level, I’m looking forward to providing my counsel and years of experience to help grow the team’s products and services.”