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Kraken founder Jesse Powell steps down as CEO

Kraken founder Jesse Powell steps down as CEO

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Kraken Chief Operating Officer David Ripley will take over from Jesse Powell, who will continue as Chairman of the Board.

Jesse Powell, the founder of US cryptocurrency exchange Kraken, is stepping down as CEO. .

Kraken’s COO David Ripley will take over as CEO

In an interview broadcast on Thursday, Powell confirmed that he was stepping down as CEO, but said he would remain with the company as chairman of the board. Chief Operating Officer David Ripley will take on the CEO role, he added.

I want to think about that because you know I’m taking on a higher level role at the chairman level. You have ultimate control over the entire company. Dave Ripley does all the hard work for me. So appreciate it,” he told Bloomberg TV.

Powell, who said he was excited about the next chapter – being chairman – and what it could allow him to do, also spoke about the company’s future under David Ripley.

I have great confidence in David Ripley and his ability to lead this company. He’s been with us since we were 50 people six years ago, all the way to the mid-3000s. So, you know, he’s seen it all. And I’m really glad we have such a deep bench and someone who can step up from inside”, he said during the interview.

Ripley focuses on the day-to-day operations of the company, while Powell hopes he has time.go deeper into the product and user experience.” This even as the crypto market continues to bear down after a tumultuous 2022, presenting a scenario that will likely complicate Kraken’s stock market debut plans.

Powell founded Kraken in 2011 and remains its largest shareholder when he takes on the role of chairman of the board.

The post Kraken founder Jesse Powell steps down as CEO appeared first on CoinJournal.

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