Kraken CEO Jesse Powell Steps Down (coindesk.com) 14
Jesse Powell, co-founder of crypto exchange Kraken, is planning to step down as CEO, Kraken confirmed with CoinDesk. The Wall Street Journal first reported on the news. From the report: Kraken's current chief operating officer, Dave Ripley, will take over as CEO once someone is hired to fill Ripley's position. According to a press release issued by the company, Powell plans to remain involved with Kraken. He will become chairman of Kraken's board and will continue working on product development and crypto industry advocacy.
The outspoken Powell, an early advocate of bitcoin (BTC) who founded Kraken in 2011, has been at the center of several company-related controversies this year. In June, Powell criticized a contingent of "woke activists" inside the company and told unhappy employees to quit, sparking a social-political debate that roiled the crypto industry and beyond. In July, reports emerged that Kraken was being investigated by the U.S. Treasury Department for allegedly allowing Iranian users to use the platform -- a violation of international sanctions against the Iranian regime.
Powell has denied that these controversies spurred his decision to step down as CEO, telling Bloomberg that he informed Kraken's board of his impending departure over a year ago. Instead, he chalked up the decision to something much more banal -- boredom. "As the company has gotten bigger, it's just gotten to be more draining on me, less fun," Powell told Bloomberg.
The outspoken Powell, an early advocate of bitcoin (BTC) who founded Kraken in 2011, has been at the center of several company-related controversies this year. In June, Powell criticized a contingent of "woke activists" inside the company and told unhappy employees to quit, sparking a social-political debate that roiled the crypto industry and beyond. In July, reports emerged that Kraken was being investigated by the U.S. Treasury Department for allegedly allowing Iranian users to use the platform -- a violation of international sanctions against the Iranian regime.
Powell has denied that these controversies spurred his decision to step down as CEO, telling Bloomberg that he informed Kraken's board of his impending departure over a year ago. Instead, he chalked up the decision to something much more banal -- boredom. "As the company has gotten bigger, it's just gotten to be more draining on me, less fun," Powell told Bloomberg.
"Crypto-Exchange CEO stepping down" is new! (Score:2)
Re: (Score:3)
Those sorts of headlines were from before the Big Crash. Nowadays a crypto CEO absconding with everyone's coins might actually be cosidered doing them a favor.
Did they have a contract? (Score:3)
So, you can say he released the kraken? Or, did the kraken release him? That'll be new.
So live boy or dead girl? (Score:2)
At first... (Score:4, Funny)
I thought this was a story about Seattle's new NHL hockey team.
Re: At first... (Score:2)
Re: (Score:2)
Same.
At least they did clarify in the body of the piece.
How bad do you have to be... (Score:2, Flamebait)
... to lose a job in crypto? I've taken dumps that have become crypto CEOs. Several.
Re:How bad do you have to be... (Score:4, Funny)
Can you stop? I mean, I don't want to tell you what to do or anything, but the less crypto CEOs the better. Maybe you could try a liquid diet?
Weird company (Score:5, Interesting)