These Crypto Leaders Left Their Firms Because of ‘Crypto Downtown’

by Arthur · October 9, 2022

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

The “tough times” for crypto continue as many crypto leaders withdraw from their positions. The massive decline in the market value of the most traded cryptocurrency, Bitcoin (BTC), can be seen throughout the year. And now many crypto leaders are also losing faith in cryptocurrency. Therefore, from the last few months, some crypto leaders have left their positions or organizations.

List of ‘Crypto Executives’ who left the firm

The listed role can be noted from August 2022. MicroStrategy CEO, Michael Saylor resigned from his position and became Executive Chairman on August 2, 2022. On August 17, 2022, Genesis CEO, Michael Moro resigned from his position and will continue to provide advice to the company through the transition.

In addition, in the same month, through a tweet, Alameda Research co-CEO Sam Trabucco provided information about his departure.

It is with the same goal that I announce today that I am stepping down as co-CEO of Alameda Research — @carolinecapital will continue as Alameda’s CEO. I will remain as an advisor, but otherwise will not continue to have a strong day-to-day presence in the company.

— Sam Trabucco (@AlamedaTrabucco) 24 August 2022

On September 21, 2022, Jesse Powell, the co-founder of cryptocurrency exchange Kraken, plans to step down from his role as CEO. According to the company’s word, Mr. Powell will remain on the board as chairman and continue his activity in product development and industry work.

Robert Bogucki, Galaxy Digital’s co-head of trading went to BH Digital, the crypto unit of Brevan Howard, on September 22, 2022. A Galaxy Digital spokesperson confirmed the news, adding, “We wish Robert the best of luck,” while Bogucki did not offer any immediate comments.

On 23 September 2022, Voyager Digital Ltd. announced that CFO Ashwin Prithipaul is stepping down to pursue other opportunities. He will leave the company after a transition period, after which CEO Stephen Ehrlich will take over Mr. Prithipaul’s duties in the interim.

Alex Mashinsky, CEO of Celsius Network Ltd. is stepping down as the company works through bankruptcy, according to the announcement on September 27, 2022. While Celsius’ creditors’ 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 step down from his position as FTX US president, saying “with the goal of removing technological barriers to the full participation and maturation of global crypto markets, both centralized and decentralized.”

1/ An announcement: I am stepping down as president of @FTX_Official. Over the next few months, I will transfer my responsibilities and step into an advisory role within the company.

— Brett Harrison (@BrettHarrison88) 27 September 2022

Here are some other notable resignations from crypto leaders.

1/ Today I formally leave my position at @GenesisTrading as co-head of sales and trading after 5+ years. Over the past month, I’ve begun handing off my core duties to a handful of trusted colleagues who will step up to run our frontline businesses.

— Matt Ballensweig (@MattBallen4791) 28 September 2022

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing

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