Kraken’s Jesse Powell stepping down as CEO of crypto exchange

Jesse Powell, chief executive of crypto exchange Kraken, is stepping down. 

David Ripley, currently serving as Kraken’s chief operating officer, will take on the CEO role in the coming months. 

Powell will continue to serve as chairman of the board at the crypto exchange he co-founded in 2011, according to Fortune

“For me, this about spending more time on stuff which I’m good at and enjoy doing like working on product and industry advocacy stuff,” Powell told Fortune.

A representative for Kraken did not immediately respond to a request for comment.

This story is developing.

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