COO Dave Ripley will replace Kraken co-founder Jesse Powell as CEO.
Jesse Powell, co-founder of cryptocurrency exchange Kraken, has announced his intention to step down as CEO as soon as an adequate replacement for Kraken COO, Dave Ripley, is found.
Powell has been an influential figure in the crypto scene since the early days of Kraken, which he founded in 2011, turning a small startup into a major cryptocurrency exchange with a reputation for innovation in 11 years.
As a committed libertarian, bitcoin enthusiast, and iconic figure in the crypto community, Powell has been the target of media attacks on numerous occasions. Firstly, because of the independent position in relations with regulatory authorities. Secondly, for non-traditional views on topics such as gender diversity, abortion and vaccines.
In June, Powell’s ban on discussion of any political and social topics in the company’s workplace and his criticism of “awakened activists” among employees caused a big public outcry. Dissatisfied with the company’s policies, employees Powell suggested that they quit:
“Most people don’t care and they just want to work. But they can’t be productive while toxic personalities keep dragging them into debates and therapy sessions.”
In July, there were reports that the US Department of the Treasury was investigating the activities of the Kraken exchange, because it, contrary to international sanctions imposed against Iran, allowed the citizens of this country to use the services of the platform.
Speaking to reporters, Powell denied that internal divisions or pressure from regulators prompted him to step down as CEO. Instead, he described his decision as banal boredom.
“As the company has gotten bigger, my job has become more routine, tedious and less fun. It began to drain me, ”says the founder of Kraken.
Powell said that this is not the end of his collaboration with Kraken. He will become the chairman of the board of directors and will focus on product development and protection of the interests of the crypto industry.
About a month ago, another iconic figure in the crypto industry, Michael Saylor, for similar reasons, left the post of CEO of MicroStrategy and moved to the position of executive chairman of the company.
Source: Bits
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