BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

Just In: Jesse Powell Steps Down As Kraken CEO, COO Dave Ripley To Take Charge

by BlockNews Team
October 7, 2022
in BUSINESS, FINANCE, MEDIA, SOCIAL
Reading Time: 3 mins read
A A
1
SHARES
20
VIEWS
Share on XShare in TelegramShare on Reddit

Kraken co-founder Jesse Powell is set to step down as CEO of the San Francisco-based crypto exchange. The company confirmed this on Wednesday. Dave Ripley, the current Chief Operation Officer (COO), will succeed Powell once someone else is recruited to fill his position. 

Kraken Lays Out Leadership Succession Plan

Kraken Digital Asset Exchange has set in plan a leadership succession plan that will see the early Bitcoin advocate and co-founder of the crypto trading platform Jesse Powel step down from his current position as the Chief Executive Officer (CEO) of the company. 

The developments were announced by the crypto company on September 21, confirming the plans to have COO Dave Ripley succeed Powell. The company’s official website statement revealed a “rigorous internal and external search over the past year” to find a suitable replacement for the long-serving company executive.  

The announcement also revealed that Powell would become the company’s board of directors chairman. 

The crypto exchange also confirmed their confidence in Dave Ripley’s ability to steer Kraken’s ship, saying that he has been actively involved in “building the future of financial freedom and inclusion alongside Jesse for six years” and will take up his role as CEO once “a search for his successor is completed.”

Reiterating Ripley’s suitability to lead Kraken, Powell said:

“Dave’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 time on the company’s products, user experience, and broader industry advocacy.”

According to the press release, Ripley joined Kraken ten years ago through an acquisition of an award-winning crypto wallet funding company Glidera where he was co-founder and CEO. He is an accomplished software engineer and product manager. He has previously worked for the Boston Consulting Group (BCG) as an executive advisor “throughout the financial services industry on top strategic priorities.”

At Kraken, Ripley has been instrumental in growing the company from just 50 to over 3,000 employees and scaling its operations by “completing more than 16 acquisitions and securing multiple regulatory licenses and partnerships.”

Kraken Has “Gotten More Draining On Me” – Jesse Powell

The long-serving Kraken CEO, who co-founded the company in 2011, stated that he was taking a step back from leading the company to focus his attention on other products of the company and become a crypto advocate. During a Tuesday interview, Powell stated that the company was draining on him.

“As the company has gotten bigger, it’s just gotten to be more draining on me, less fun. I still plan to stay very engaged with the company.” 

Powell, an early Bitcoin (BTC) advocate, has been at the center of several company-related controversies. For instance, in June this year, he criticized a group of “woke” company employees, telling them to quit. This sparked a social-political debate in crypto and the broader financial industry.  

In July, the U.S. Treasury Department opened an investigation into Kraken on allegations of allowing Iranian users to use the digital exchange platform, violating international sanctions against the country’s regime. 

Powell has denied that his decision to step down as CEO has been triggered by these controversies stating that he communicated his impending departure to Kraken’s board over a year ago. 

Tags: BlockchaincryptoWeb3
TweetShareShare
Previous Post

Canadian Prime Minister Justin Trudeau Attacks Opposition for Recommending Bitcoin as Inflation Hedge

Next Post

How CBDCs could be Crypto’s Evil Twin

DON'T MISS THESE! HOT OFF THE PRESS

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?
CRYPTO

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

July 1, 2025
Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
Load More

Related News

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

July 1, 2025
Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.