# David Wells

> David Wells is the CEO of Ondo Perps, the equity-perpetuals trading arm of Ondo Finance, where he leads the push to bring leveraged trading of U.S. stocks, ETFs, and commodities onchain with tokenized shares usable as collateral. He founded and ran Enclave Markets, the first Fully Encrypted Exchange, incubated within Ava Labs, after earlier roles at Two Sigma and Paxos. A Harvard Business School graduate and long-time markets operator, Wells has spent his career building institutional-grade trading infrastructure and arguing that crypto markets still hold real inefficiencies for those who can build fair, private, and efficient venues.

- **Role:** CEO, Ondo Perps at Ondo Finance
- **Organizations:** Ondo Finance, Ondo Perps, Enclave Markets, Two Sigma, Paxos, Ava Labs
- **Nationality:** American
- **Education:** MBA, Harvard Business School
- **Known for:** Founded Enclave Markets, described as the world's first Fully Encrypted Exchange (FEX), built entirely inside a secure enclave so that no party, including operators, can read order activity, Led development of the technology stack now powering Ondo Perps, the first equity-perpetuals platform to accept tokenized stock and ETF holdings as collateral, Helped launch Ondo Perps with up to 20x leverage on leading U.S. stocks, ETFs, and commodities for global investors outside the U.S.

## Career timeline

- **2013-2015** — Attended Harvard Business School
- **2020-2022** — VP of Strategy and Product Development at Two Sigma
- **2022** — Founded Enclave Markets, the first Fully Encrypted Exchange, incubated within Ava Labs; served as Founder and CEO
- **2026** — Became CEO of Ondo Perps, leading Ondo Finance's equity-perpetuals platform

## Achievements

- Founded Enclave Markets, described as the world's first Fully Encrypted Exchange (FEX), built entirely inside a secure enclave so that no party, including operators, can read order activity
- Led development of the technology stack now powering Ondo Perps, the first equity-perpetuals platform to accept tokenized stock and ETF holdings as collateral
- Helped launch Ondo Perps with up to 20x leverage on leading U.S. stocks, ETFs, and commodities for global investors outside the U.S.
- Held senior roles at Two Sigma and Paxos before founding his own exchange

## Latest updates

- **2026-07** — Ondo Perps launched as the first equity-perpetuals platform supporting tokenized stock collateral, with up to 20x leverage on stocks, ETFs, and commodities, powered by the tech stack Wells leads.

## Links

- Website: https://ondo.finance
- LinkedIn: https://www.linkedin.com/in/david-wells-12792413/

---

Profile page: https://yespress.io/david-wells
Published by YesPress — https://yespress.io
Last updated: 2026-07-20