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Crypto trade Kraken stated on Wednesday Chief Working Officer Dave Ripley would exchange high boss Jesse Powell, who’s stepping down after greater than a decade on the helm.

Ripley, who joined Kraken in 2016 when it purchased his startup Glidera Inc, will tackle the chief govt’s position after the corporate finds a brand new COO, Kraken stated.

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Powell will change into chairman of Kraken’s board, the corporate added.

Earlier this 12 months, the outgoing CEO drew criticism when the corporate refused to dam accounts of Russian customers, following the nation’s invasion of Ukraine, citing the “libertarian values” of cryptocurrencies as one of many main causes behind the choice.

The corporate has over 9 million shoppers, in accordance with its web site, and processes over $207 billion value of trades each quarter. (Reporting by Niket Nishant in Bengaluru; Enhancing by Shinjini Ganguli)

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