The CEO of Kraken is stepping down after 11 years to be replaced by the current COO.
Jesse Powell, the co-founder and CEO of cryptocurrency exchange Kraken, will be stepping down after leading the platform for more than 11 years.Powell will be succeeded as CEO by chief operating officer Dave Ripley, who has been with Kraken since 2016. The soon-to-be former CEO will stay with the crypto exchange as the chair of the board, while the company searches for a new chief operating officer.
Ripley said his goals were"in lockstep" with Powell's amid his rise to the new leadership position. The soon-to-be former CEO reportedlyhis decision to step back was due to Kraken growing in size: “It’s just gotten to be more draining on me, less fun.” Powell added he still planned “to stay very engaged with the company.”
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