Jesse Powell, founder and CEO of cryptocurrency exchange Kraken, has reportedly resigned after more than 11 years on the platform.
According to a Wednesday report from Bloomberg, Powell will be replaced as CEO by Chief Operating Officer Dave Ripley, who has been with Kraken since 2016. A new COO in the next few months.
Powell reportedly decided to back out because of the Kraken’s growing size: “It was getting more and more tiring on me, less fun.” He added that he still plans to be “very involved with the company.”
After my neck injury and surgery, I had a hard time sleeping. I went a long way in dieting, meal timing, cutting out caffeine and optimizing the environment. Still, I needed perfection to get a good night’s rest. In the end, all I had to do was go back to lifting weights 30 minutes a day. pic.twitter.com/pZcg79E7O5
— Jesse Powell (@jespow) September 20, 2022
Related: Kraken has been awarded a crypto business license in the United Arab Emirates
As the leader of Kraken since 2011, Powell took the US-based exchange through its early years in the crypto space. In the year Kraken has announced that it will close its global headquarters in downtown San Francisco in 2022 and has criticized “active activists” as not suited to work on crypto exchanges.
Cointelegraph reached out to Kraken, but did not receive a response at the time of publication. This story is getting better and better.