Institutional Business Development Lead, Cycles Prime

The Opportunity

Crypto trading firms have billions in working capital trapped in bilateral exposures across venues. Cycles Prime frees it. No collateral, no escrow, no new counterparties.

We're in pilot with several of the largest trading firms in the market. We’re looking for the founding commercial hire to take us from closed beta to a public release with a real pipeline behind it.

About Cycles

Cycles' mission is to clear the most debt, for the most people, with the least money. We are building a neutral clearing layer that interconnects every settlement network across global financial markets. By optimizing payment and credit flows, Cycles resolves gridlock and improves capital efficiency and liquidity across the financial system.

We recently closed a $6.4M round led by Blockchange Ventures, with Coinbase Ventures, Compound VC, and Primitive Ventures participating. Total funding to date: $8.7M. Earlier backers include CMCC Global, Maven 11, Nascent, and Cygni. Founded by Ethan Buchman (co-founder of Cosmos), originally incubated by Informal Systems.

About Cycles Prime

Cycles Prime is a clearing solution for trading firms that preserves working capital and reduces reliance on credit lines. It requires no collateral, no asset escrow, and no new counterparties, using a graph flow algorithm and advanced privacy technology to identify multilateral obligation cycles that can be netted, privately and provably, without moving cash.

About the Role

As Institutional Business Development Lead, you own the pipeline and sales function for Cycles Prime. You build the target list, work the outbound, take the meetings, and push deals to close. As we grow, you hire and build out the BD team, with a path to running Cycles Prime as General Manager.

You arrive with an existing network of buyers at institutional trading firms. You have sold to them before, either at a crypto firm or in TradFi, and you want to apply that to building something new.

In this role, you will

• Own the pipeline. Pick the targets, get the intros, run the meetings. Work the internal stakedholders on their side, negotiate terms, and land new clients.
• Own the P&L. Help set pricing, fee structure, and the partnership terms we offer early network members. Own the revenue forecast as we grow.
• Build the BD function. Turn what's working into the playbook for the next hires. Hire and lead the BD team as we scale, then take over as GM with full P&L.

What we are looking for

• Five to ten years selling into institutional markets. Business development or sales at a crypto trading firm or TradFi institution.
• You have closed real enterprise deals and carried revenue against a quota or pipeline target.
• You bring an existing network of buyers at institutional trading firms.
• You understand crypto market structure across centralized venues, OTC, and on chain settlement.
• Based in New York. The role is remote on paper but our buyers are in NYC and the relationship work happens in person. You should be in the city most weeks.

Some of our benefits include

• 20 days (4 weeks) of paid vacation annually, plus 3 Spiritual Days
• Company closure from December 25th to January 1
• Annual Lifestyle benefits (reimbursements for gym memberships, fitness equipment, etc)
• A remote first, flexible work environment
• A home office stipend to set you up for success
• Annual company retreats
• Paid parental leave

The salary range for this role is 130,000 to 190,000 USD and may vary based on factors like location and experience.

We are an equal opportunity employer and value diversity in our organization. We are committed to equal employment opportunities and encourage applications from people of all race, religion, color, national origin, gender identity, sexual orientation, age, marital status, veteran status, or disability status.