Kraken’s CEO Jesse Powell announced his resignation on Twitter on Monday, May 13th. He wrote “I am proud of what we have built at Kraken over the past five years, and I’m excited about the future.” In addition to his resignation, he also said that he would be staying on until the end of June to help out with any transition issues.
Reasons for Resignation
Powell cited personal reasons for leaving, saying that he wanted to spend time with his family and focus on his own projects. He also mentioned that he was looking forward to working on some exciting things in the crypto space.
What Does This Mean?
This means that Kraken is now without its CEO. The company will need to find someone who can take over the position and lead the company. If they do not find anyone soon, then they may have to shut down their operations.
If Kraken shuts down, then it could mean trouble for those who use the platform. There are many people who rely on Kraken to trade cryptocurrencies, and if they cannot access the site, then they might lose money.
Other Cryptocurrency Exchanges
There are other exchanges out there that offer similar services to Kraken. These include Coinbase, Bitstamp, Gemini, and Bittrex. However, these companies are much smaller than Kraken, and if they close down, then it could cause problems for users.