Kraken CEO Jesse Powell Steps Down

COO Dave Ripley will succeed Powell, who is slated to become chair of the board of directors

article-image

Kraken CEO Jesse Powell

share

key takeaways

  • 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.

Loading Tweet..

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.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

HYATT REGENCY SALT LAKE CITY

TUES, OCT. 8, 2024

Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report cover graphics (1).jpg

Research

Wormhole is a suite of open-source, permissionless protocols used to move assets and queries across blockchains.  Despite being a common misconception, Wormhole is not just a token bridge. Nevertheless, protocols can build token bridges on top of Wormhole by leveraging the cross-chain messaging provided.

article-image

Ether is a commodity just up until the point it is not, or, ether is not a commodity just up until the point it is — whichever you prefer

article-image

The bull-market conference was filled with good feelings but little clarity on where the crypto industry is headed next

article-image

The Friday ruling was issued as a default judgment because Sameer Ramani “appears to have fled the country”

article-image

Bitcoin’s previous record high against the Euro was set in September 2021

article-image

As bitcoin ETFs grow larger and more liquid, due diligence teams at wirehouses and other investment firms are more likely to clear them, Bitwise researcher says

article-image

Sponsored

The TRON DAO team attended ETH Denver, one of the leading events in the blockchain space