These Crypto Executives Left Their Firms due to ‘Crypto Downtown’

Due to ‘Crypto Winter’ major crypto executives left their organization.
In the previous month, many big names from the leading crypto firms including Celsius Network, Voyager Digital, Kraken, Galaxy Digital, FTX, OpenSea came out.

The ‘tough time’ for crypto continues as many crypto leaders step down from their positions. The massive drop in the market cap of the most-traded cryptocurrency, Bitcoin (BTC) can be seen through-out this year. And now many crypto leaders are also losing their faith in cryptocurrency. Hence, from the past few months, some crypto executives have left their positions or organizations.

List of ‘Crypto Executives’ who Left The Firm

The roll into the list can be noted from August 2022. The CEO of MicroStrategy, Michael Saylor stepped down from his position and became an Executive Chairman on August 2, 2022. On August 17, 2022 Genesis CEO, Michael Moro stepped Down from his position and will continue to advise the company through the transition.

Additionally, in the same month, through a Tweet, Alameda Research co-CEO Sam Trabucco, gave the information of his steps down.

It’s with the same goal that I’m announcing today that I am stepping down as co-CEO of Alameda Research — @carolinecapital will continue on as Alameda’s CEO. I will stay on as an advisor, but otherwise will not continue to have a strong day-to-day presence at the company.
— Sam Trabucco (@AlamedaTrabucco) August 24, 2022

On September 21, 2022 Jesse Powell, the Co-founder of the cryptocurrency exchange Kraken, plans to step down from his role as Chief Executive. As per the company saying, Mr. Powell will remain on the Board as Chairman and continue his activeness on product development and industry advocacy.

Robert Bogucki, Galaxy Digital’s co-head of trading left for BH Digital, the crypto unit of Brevan Howard, on September 22, 2022. A spokesperson from Galaxy Digital confirmed the news and added “We wish Robert the best of luck,” while Bogucki did not make any immediate comment.

On September 23, 2022 Voyager Digital Ltd. announced that Chief Financial Officer Ashwin Prithipaul is resigning to pursue other opportunities. He will depart from the Company after a transition period, and then Chief Executive Officer Stephen Ehrlich will assume Mr. Prithipaul’s duties in the interim.

Alex Mashinsky, CEO of Celsius Network Ltd. steps down as the company works its way through bankruptcy, as per the announcement of September 27, 2022. While Celsius’ creditor committee called for Mashinsky’s removal after conducting an investigation into the company. As the Financial Times reported, Mashinsky had withdrawn $10 million before Celsius declared bankruptcy and froze withdrawals on June 12, 2022.

On September 27, 2022 on Twitter, Brett Harrison said he will be resigning his position as FTX US president, and said “with the goal of removing technological barriers to full participation in and maturation of global crypto markets, both centralized and decentralized.”

1/ An announcement: I’m stepping down as President of @FTX_Official. Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company.
— Brett Harrison (@BrettHarrison88) September 27, 2022

Here are some other remarkable resignations of crypto executives.

1/ Today, I’m formally leaving my post at @GenesisTrading as co-Head of Sales and Trading after 5+ years. Over the last month I’ve started transitioning my core responsibilities to a handful of trusted colleagues who will step up to run our front-line businesses.
— Matt Ballensweig (@MattBallen4791) September 28, 2022

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing