BlockFi Parts Ways With Head of US Trading

Blockworks exclusive: The executive was the only one cut from the trading team, one source said

article-image

Blockworks exclusive art by Axel Rangel

share
  • The investment firm recently cut 20% of staffers and received an emergency infusion of cash from crypto exchange FTX to bolster its beleaguered balance sheet
  • The layoffs come amid a spate of similar actions by other digital asset-focused companies hit hard by sliding crypto markets

Digital assets-focused investment firm BlockFi has parted ways with its head of US trading amid a broad-based restructuring, according to two sources with knowledge of the matter.

The move took place during a widespread crypto downturn that, in part, prompted the asset manager to lay off 20% of its employees and take a sizable emergency cash infusion from crypto exchange FTX to stabilize its business. 

Jason Wilkinson oversaw BlockFi’s US trading team and previously spent more than a decade as a senior trader at Two Rivers Trading. Wilkinson declined to comment.

A BlockFi spokesperson declined to comment. Sources were granted anonymity to discuss sensitive business dealings. 

A headhunting source, who requested anonymity for fear of alienating BlockFi, said Wilkinson ought to have “little trouble” landing a new gig — despite a suddenly tough hiring market as a result of firms including CoinBase and Babel Finance cutting staffers — given his deep traditional finance experience. 

Wilkinson was the only departure from the firm’s 12-person trading team, and the trading desk’s global head and head of Asia-Pacific trading remain with the company, one source said. The team is maintaining 24/7 trading, with no interruption to clients, the source added. 

BlockFi last week received a $250 million line of revolving credit from FTX, whose founder Sam Bankman-Fried has gone on a spending spree in both crypto and traditional assets, floating loans to bail out companies deeply underwater from the market downturn. 

While Bankman-Fried has said his motives are altruistic, industry participants have told Blockworks that his efforts put the exchange — plus his venture capital firm, Alameda Ventures — in prime position to snap up stakes in beleaguered companies or acquire them outright. 

The founder, one of the most prominent in digital assets, has said he has no day-to-day involvement in Alameda Ventures.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Figure, founded by former SoFi CEO Mike Cagney, has emerged as a leader in onchain RWAs, with ~$17.5B publicly tokenized. The platform’s ecosystem volume is growing ~40% YoY as it expands beyond HELOCs into student loans, DSCR loans, unsecured loans, bankruptcy claims, and more. Operationally, Figure cuts average loan production cost by ~93% and compresses median funding time from ~42 days to ~10, creating a durable speed-and-cost advantage.

article-image

Former White House crypto official Bo Hines is expected to be the CEO of the new project

article-image

In bonds, stablecoins and billionaires, a reminder of what makes crypto special

article-image

21Shares exec says CPI and PPI data supports a Fed rate cut, with market leaning toward a 25bps decrease

article-image

The Ethereum co-founder suggested LINEA holders would be eligible for other airdrops in cryptic tweet

article-image

The layer-2’s biggest release yet brings benefits — but a post-upgrade outage caused a chain reorg

article-image

Crypto is shifting into risk-on mode — pump.fun dominates meme activity, while Lido leans on treasury maneuvers