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
  • 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.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The goal, per Santiago Santos, is to make crypto a relatable piece of tech for people who may not even understand it

article-image

Stripe stablecoin unit aims to operate under a federal charter enabling regulated stablecoin issuance and custody services

by Blockworks /
article-image

Will TradFi make crypto better or create more problems than it solves?

article-image

Subtle decisions by risk curators saved Aave from significant turmoil

article-image

The new Rootstock Institutional unit aims to connect professional investors to Bitcoin-native yield and liquidity strategies anchored in BTC’s security layer

by Blockworks /
article-image

DOJ files record civil forfeiture against more than 127,000 BTC linked to scam activity

by Blockworks /