Kraken CEO Jesse Powell moving to Chairman role to focus on crypto industry advocacy
According to reports on September 21, Kraken co-founder and CEO Jesse Powell has stepped down and will be replaced by the company’s COO Dave Ripley. press statement.
Powell becomes chairman of the company’s board of directors. He currently focuses on product development and advocacy for the crypto industry.
Ripley has been COO of the cryptocurrency exchange for the past six years, according to a press release. During this period, he grew the company’s workforce 60 times his size, “helped 16 acquisitions and secured numerous global regulatory licenses and partnerships.”
Ripley said his vision is to “accelerate” adoption of cryptocurrencies.
Ripley will assume his new role after the company completes its search for a new COO.
Earlier this year, Powell made news for stating that some of the company’s employees were “not fit.” Employees were then asked to either commit to the company or take a paycheck and leave, he said.
Powell also said he wants to buy a Bugatti for 1 bitcoin (BTC) before the end of the year.
Under Powell, Kraken has been able to cement its position as one of the world’s leading cryptocurrency exchanges.According to Coin Gecko datathe exchange’s trading volume exceeds $ 632 million.
