Change at the top for crypto exchange Kraken with former COO to lead firm

Crypto exchange Kraken has appointed a new CEO – chief operating officer (COO) Dave Ripley is to lead the firm with current CEO Jesse Powell set to become chair of the company’s board.

Ripley, who has been COO for six years, will assume the role of CEO once a new COO has been found, Kraken says.

Throughout his tenure as COO, Ripley has played an “instrumental role” in growing the company and scaling operations. He joined Kraken through its acquisition of crypto wallet Glidera, where he was co-founder and CEO.

Under Ripley’s stewardship as COO, Kraken has expanded its workforce from 50 to more than 3,000 and seen more than 16 acquisitions secured by the company as well as a number of global regulatory licenses and partnerships.

Ripley says: “My vision, along with the rest of the leadership team, is in lockstep with Jesse’s – to accelerate the adoption of cryptocurrency.”

As chair, Powell says he will be turning his attention to the company’s products, user experience and “broader industry advocacy” as Ripley “leads Kraken through its next era of growth”.

Going forward, Kraken will continue to invest in its product portfolio, with an NFT marketplace to launch soon, joining Kraken’s trading tools, futures trading and OTC products.