Robinhood Ex-Crypto Compliance Head Said to Join Cross River (1)

Robinhood Markets Inc.'s former chief compliance officer for cryptocurrency has landed a new job at Cross River Bank, a regional lender serving financial technology companies, according to two people familiar with the matter.

Benjamin Melnicki is head of cryptocurrency compliance and regulatory for Fort Lee, N.J.-based Cross River, said the people, who spoke on the condition of anonymity because the move hasn’t been publicly disclosed. Melnicki left Robinhood in December and joined Cross River in May, the people said.

Robinhood has cut 9% of its staff—about 340 employees—as the online trading platform racked up roughly $2 billion in losses since ...