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Kraken founder Jesse Powell steps down as CEO

Kraken founder Jesse Powell steps down as CEO

Kraken Chief Operating Officer David Ripley takes over from Jesse Powell, who stays on…

The post Kraken founder Jesse Powell steps down as CEO appeared first on CoinJournal.

Kraken founder Jesse Powell steps down as CEO

Kraken Chief Operating Officer David Ripley takes over from Jesse Powell, who stays on as Chairman, Board of Directors.

Jesse Powell, the co-founder of US-based cryptocurrency exchange Kraken, is stepping down from his Chief Executive Officer position.   .

Kraken COO David Ripley takes over as CEO

In an interview aired on Thursday, Powell confirmed his exit as CEO, but said that he will remain at the company as Chairman of the board. The CEO role is being taken by Chief Operating Officer David Ripley, he added.

I like to think of it as you know I’m taking a higher level role at the chairman level. You have ultimate oversight over the whole company. Dave Ripley will be doing all the hard work for me. So appreciate that,” he told Bloomberg TV.

Powell, who said he is excited about the next chapter – being chairman – and what it could allow him to do, also talked about the future of the company under David Ripley.

I’m extremely confident in David Ripley and his ability to lead this company. He’s been with us since we were 50 people six years ago, all the way up to mid-3000 right now. So, you know, he’s seen it all. And I’m just super glad that we have such a deep bench and someone able to step up from the inside,” he said during the interview.

Ripley will focus on the day to day running of the company, while Powell hopes he’ll have time “to go deeper on the product and user experience.” This even as the crypto market remains in a bearish grip after a tumultuous 2022 and presents a scenario likely to hamper Kraken’s stock market debut plans.  

Powell co-founded Kraken in 2011 and remains its largest shareholder as he takes up the Chairman of the Board of Directors role.

The post Kraken founder Jesse Powell steps down as CEO appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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Altcoins

Telco giant Deutsche Telekom launches Ethereum validator

Deutsche Telekom will run an Ethereum validator node via its subsidiary T-Systems Multimedia Solutions…

The post Telco giant Deutsche Telekom launches Ethereum validator appeared first on CoinJournal.

  • Deutsche Telekom will run an Ethereum validator node via its subsidiary T-Systems Multimedia Solutions and has also partnered liquid staking pools provider StakeWise.

German telecom giant Deutsche Telekom has announced support for the Ethereum network, revealing plans to run a validator node on the world’s largest proof-of-stake (PoS) blockchain.

An announcement from the telecommunications giant on Thursday stated that the company move is part of its wider objective of expanding its activities across the blockchain technology and crypto ecosystem.

Deutsche Telekom joins Ethereum staking

According to Deutsche Telekom, its validation infrastructure will be handled by its subsidiary, T-Systems Multimedia Solutions (T-Systems MMS). T-Systems MMS will thus operate a validator node on Ethereum, taking part in the network’s staking mechanism.

Deutsche Telekom also announced that its subsidiary would be partnering liquid staking pools provider Stake Wise, this marking the telco’s entry into liquid staking. 

The StakeWise app allows ETH holders to participate in network validation without having to operate a validator node themselves. This in turn lowers the entry barrier for anyone looking to invest in the cryptocurrency.

After collaborating with Flow, Celo and Polkadot, we are now taking the next decisive step in the blockchain world and are doing pioneering work here with Ethereum. As a node operator, our entry into liquid staking and the close collaboration with a DAO is a novelty for Deutsche Telekom,” said Dirk Röder, Head of Blockchain Solutions Center at T-Systems MMS.

The German telco behemoth’s move comes a few weeks after Ethereum successfully transitioned from the proof-of-work mechanism used on the Bitcoin network.

The Merge, as the Ethereum software upgrade that ushered in the PoS mechanism was called, is set to see energy consumption for Ethereum fall by 99.95% – making the blockchain a more eco-friendly network.

The post Telco giant Deutsche Telekom launches Ethereum validator appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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