Jesse Powell, CEO of Bitcoin Exchange ‘Kraken’, Steps Down

Jesse Powell, an early bitcoin backer and co-founder of the cryptocurrency exchange Kraken, plans to step down from his role as chief executive, the company said on Wednesday.Dave Ripley, the current chief operating officer, will succeed Mr. Powell.Kraken’s largest shareholder, Mr. Powell will remain on the board as chairman. He plans to stay active in the company, spending his time on product development and industry advocacy.It was most recently valued at $10.8 billion, according to PitchBook, and has about 3,200 employees.

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