Kraken CEO Jesse Powell Steps Down

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  • The exchange has over 3,000 employ­ees and has recent­ly replaced oth­er top executives
  • Pow­ell is cur­rent­ly Kraken’s largest shareholder

Cryp­to exchange Krak­en is restruc­tur­ing its lead­er­ship team.

CEO Jesse Pow­ell will no longer lead the com­pa­ny he found­ed in 2011. Dave Rip­ley, chief oper­at­ing offi­cer at the exchange for the last six years, will suc­ceed Pow­ell once the search for his own replace­ment as COO has been completed.

Pow­ell will remain at the com­pa­ny, how­ev­er, becom­ing the chair of the board of direc­tors. He is cur­rent­ly Kraken’s largest shareholder.

Pow­ell shared in a state­ment that step­ping down as CEO will enable him to spend more time on the company’s prod­ucts, user expe­ri­ence and indus­try advocacy. 

Rip­ley stat­ed in a press release that his vision, “along with the rest of the lead­er­ship team, is in lock-step with Jesse’s – to accel­er­ate the adop­tion of cryptocurrency.” 

Krak­en has over 3,000 employ­ees and has recent­ly replaced oth­er top executives.

The com­pa­ny hired Car­rie Dolan as chief finan­cial offi­cer in March and then named Mayur Gup­ta its chief mar­ket­ing offi­cer in April.

Back in June, Krak­en released a “cul­ture doc­u­ment” that attempt­ed to explain the company’s cul­ture, which end­ed up being a con­tro­ver­sial move.

Krak­en is the fourth-largest cryp­to exchange in terms of spot-trad­ing vol­ume, accord­ing to CoinMarketCap.

The exchange also has plans to launch its own NFT mar­ket­place soon.

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  • Ornel­la Hernandez



    Ornel­la is a Mia­mi-based mul­ti­me­dia jour­nal­ist cov­er­ing NFTs, the meta­verse and DeFi. Pri­or to join­ing Block­works, she report­ed for Coin­tele­graph and has also worked for TV out­lets such as CNBC and Tele­mu­n­do. She orig­i­nal­ly began invest­ing in ethereum after hear­ing about it from her dad and has­n’t looked back. She speaks Eng­lish, Span­ish, French and Ital­ian. Con­tact Ornel­la at [email pro­tect­ed]

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