Jesse Powell, the CEO of Kraken, is stepping down from the top job at the cryptocurrency exchange he founded in 2011. The company announced the news on Wednesday, adding that longtime Chief Operating Officer Dave Ripley will succeed Powell in the coming months.
The shake-up is significant as Powell has been an influential figure in the crypto scene since Bitcoin’s early days, growing Kraken from a small startup to a major exchange with a reputation for product innovation.
Powell claimed that he informed the board of his preference more than a year prior, and the business finally chose Ripley after considering its options. Additionally, Ripley said he was eager to forward the Kraken mission.
Over time, Kraken grew to become one of the largest US cryptocurrency exchanges. In an interview with Bloomberg last month, Powell stated that he would never gamble against bitcoin. A Lambo will cost one bitcoin by the end of the year, and a Bugatti the next year, according to Jesse’s projections for the cryptocurrency industry.
“As the company has gotten bigger, it’s just gotten to be more draining on me, less fun.(…). I still plan to stay very engaged with the company as the largest shareholder and member of the board,”.
Powell stated in an interview on Tuesday
Powell had earlier this year encouraged the awake Kraken employees to leave the company. According to reports, Kraken was being looked at for allegedly violating federal regulations by providing services to Iranians. The US Department of Treasury was investigating Kraken, according to persons with knowledge of the case.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
Coincu News
Polymarket user identified only as "wallet mobile" has just made an astonishing bet of $10…
Binance CEO Richard Teng stated that Western companies will benefit most due to regulatory influence.
The Cyprus Securities and Exchange Commission announced that the Cypriot Investment Firm (CIF) FTX license…
The VanEck Pyth ETN, backed by assets stored in cold storage with Bank Frick, has…
Swift, UBS Asset Management, and Chainlink have completed a proof-of-concept that would settle tokenized fund…
Abu Dhabi, United Arab Emirates, 5th November 2024, Chainwire
This website uses cookies.