Jesse Powell will step down as CEO of cryptocurrency exchange Kraken.
Jesse Powell has decided to step down as CEO of cryptocurrency exchange Kraken, according to The Wall Street Journal.
Powell will be replaced by Dave Ripley. Currently, it is not clear who will be Ripley's successor.
Despite leaving the job, Powell still plans to continue to take an active role in the company as largest shareholder.
He will take on the role Chairman of the Board of Directors of the company.
Founded in 2011, Kraken is one of the cryptocurrency exchanges longest life span. Currently, it has about 3.300 employees all over the world.
Last year, Powell said that his exchange could have an IPO in 2022. Kraken is one of the few crypto companies that continues to hire despite the severe crypto downturn, according to the report. .
In June, Powell stirred up a controversy after making some dogged comments and asking employees to leave the company.
US authorities are also said to be investigating Kraken for violating Iran sanctions.