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Market News Kraken taps insider Ripley to replace CEO Powell

Kraken taps insider Ripley to replace CEO Powell

Kraken, a cryptocurrency exchange, said on Wednesday that Chief Operating Officer Dave Ripley will succeed top executive Jesse Powell, who is leaving after more than ten years in the position.

Jimmy Khan

2022-09-22

546

Kraken, a cryptocurrency exchange, said on Wednesday that Chief Operating Officer Dave Ripley will succeed top executive Jesse Powell, who is leaving after more than ten years in the position.

After the business hires a new COO, Ripley, who joined Kraken in 2016 when it acquired his firm Glidera Inc., will become the company's CEO, according to Kraken.

According to the corporation, Powell will take over as chairman of Kraken's board.

In response to Russia's invasion of Ukraine earlier this year, the business declined to delete accounts of Russian users, drawing criticism from the departing CEO. The corporation cited the "libertarian ideals" of cryptocurrency as a key factor in its decision.

According to the company's website, it serves over 9 million customers and completes over $207 billion worth of deals per quarter.