Kraken Exchange CEO Steps Down

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

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

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

Rip­ley says that his goal as CEO won’t be much dif­fer­ent from Powell’s – to expe­dite the adop­tion of dig­i­tal assets.

As stat­ed by Powell,

“[Ripley’s] proven lead­er­ship and expe­ri­ence give me great con­fi­dence that he’s the ide­al suc­ces­sor and the best per­son to lead Krak­en through its next era of growth. I look for­ward to spend­ing more of my time on the company’s prod­ucts, user expe­ri­ence and broad­er indus­try advocacy.”

Last month, Pow­ell said that wouldn’t bet against Bit­coin (BTC), the top cryp­to asset by mar­ket cap. He said he’s bull­ish on BTC because its fun­da­men­tals were improv­ing and that he hopes the king cryp­to would be worth a Bugat­ti by the end of the year.

“I wasn’t expect­ing all this crazi­ness in the macro envi­ron­ment, how­ev­er, I’m still hope­ful that I’ll be able to buy a Bugat­ti by the end of the year for one Bitcoin…

I’m still very bull­ish, I bought Bit­coin again at $18,000, so I’m hap­py to ride it all the way back up. I’m still very bull­ish in the long run, [its] fun­da­men­tals keep improv­ing, so I would nev­er bet against Bitcoin.”

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