Crypto Shakeout Engulfs the C-Suite as CEOs Start Stepping Down
- Kraken CEO joins peers at Genesis, Alameda in stepping down
- Crypto faces regulatory scrutiny after a series of meltdowns
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The cryptocurrency industry’s epic shakeout, having cost thousands of jobs and set off a round of consolidation, is reaching the corner office.
Crypto exchange Kraken announced on Wednesday that co-founder Jesse Powell will step down as CEO, to be replaced by Chief Operating Officer David Ripley. The reshuffle comes shortly after Genesis’s Michael Moro and Bitcoin evangelist Michael Saylor, along with Sam Trabucco of Alameda Research, relinquished top positions.