Kraken Co-Founder and CEO Jesse Powell Steps Down, Names COO As Crypto Successor cryptomarketbag Blockchain update

The chief executive of crypto exchange giant Kraken is stepping down and naming his successor.

according to a new company blog postKraken’s co-founder and CEO is resigning from his role and naming the firm’s current chief operating officer (COO) Dave Ripley as his replacement.

The company says the quest to replace Powell, who will move on to his new role as chairman of the company’s board of directors, took a year.

Ripley says that his goal as CEO will not be much different from Powell’s – to accelerate the adoption of digital assets.

As said by Powell,

,[Ripley’s] Proven leadership and experience have given me great confidence that he is the ideal successor and best man to lead Kraken through the next era of development. I look forward to spending more of my time on the company’s products, user experience and broader industry advocacy.”

Last month, Powell said he would not bet against bitcoin (BTC), the top crypto asset by market capitalization. He added that he is optimistic on BTC as its fundamentals are improving and that he expects King Crypto to be worth Bugatti by the end of the year.

“I was not expecting all this madness in the macro environment, however, I still hope that I will be able to buy a Bugatti for one bitcoin by the end of the year…

I’m still very bullish, I bought bitcoin again at $18,000, so I’m happy to have it back in full. I’m still too fast in the long run, [its] Fundamentals keep improving, so I would never bet against bitcoin.”

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Featured Image: Shutterstock/Demetrio Zimino

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