Almost six months to the day that she resigned as Director of the Consumer Financial Protection Bureau, Kathy Kraninger has landed a new job — she is the new top regulatory official for Solidus Labs, a cryptocurrrency startup founded by former employees of Goldman Sachs.
Solidus Labs provides cryptocurrency trading surveillance and risk management tools. Kraninger’s job will be to help educate lawmakers, regulators, and other members of the financial services market about how digital markets can be effectively regulated, she said in an interview.
Kraninger, who spent more than two years as Director of the CFPB, resigned on January 20, at the request of incoming President Joe Biden. Kraninger, who had spent most of her career in public service, including helping create the Department of Homeland Security and a stint as an Associate Director at the Office of Management and Budget, was nominated to the post by former President Donald Trump. She replaced Acting Director Mick Mulvaney. At the time, critics attacked Kraninger’s lack of experience in the financial services industry and leading a federal agency, but when she resigned, she had earned the respect of many in the industry.
“I spent a lot of time at the bureau really thinking about innovation in fintech and promoting that engagement between government and industry, so I’m very excited to further that,” Kraninger said in a published report. “And I certainly have a lot of experience with how regulators think.”
Solidus recently raised $20 million in a round of Series A fundraising.
“Kathy brings her strong commitment to consumer protection and deep expertise in public policy, regulation, and the legislative process to promote Solidus’, and the crypto industry’s, mission of enabling more accessible and transparent financial services, while mitigating new risks,” says Asaf Meir, Solidus Labs’ founder and Chief Executive, in a statement
