Top 4 Crypto CEO Departs for 2022 as we Wind Down the Year

Let's examine some of the most significant CEO departures from the year.

Everyone suffered from crypto-winter in 2022, from stockholders to the CEOs of multibillion-dollar corporations. The price of crypto assets experienced a sharp decrease in 2022, and many CEOs and other important executives of crypto organizations resigned from their positions as a result.

Some CEOs left their positions as respective businesses filed for bankruptcy, while others left because of the cryptocurrency market's unpredictability or a shift in the company's goals.

A number of businesses, notably Three Arrows Capital, Voyager Digital, and FTX, filed for bankruptcy after Terra's demise, which shocked the cryptocurrency community.

Let's examine some of the most significant CEO departures from the year.

MicroStrategy CEO, Michael Saylor

In August, Michael Saylor announced his resignation as CEO of MicroStrategy. In 1989, he co-founded MicroStrategy, a provider of cloud-based services, mobile applications, and corporate intelligence. From 1989 to 2022, he was the chief executive officer of MicroStrategy.

Saylor still serves as the company's executive chairman even though he is no longer the CEO. For a publicly traded corporation, MicroStrategy is renowned for possessing an unprecedented quantity of bitcoins (a “Bitcoin whale”). As of December 28th, MicroStrategy held about 132,500 BTC.

Celsius, CEO, Alex Mashinsky

Alex Mashinsky, the CEO of the bankrupt cryptocurrency borrower Celsius Network, quit his job in September. Two months after Celsius filed for Chapter 11 bankruptcy, Mashinsky announced his resignation.

Mashinsky expressed regret for the “tough financial circumstances” that the Celsius community is dealing with in his letter of resignation, stating that his protracted work as CEO has become an increasing distraction.

In September, Celsius co-founder Daniel Leon also gave up his post as the organization's chief strategy officer.

FTX CEO, Sam Bankman-Fried

After FTX filed for Chapter 11 bankruptcy on November 11, Sam Bankman-Fried announced his resignation as CEO of the company.

Less than a week after Binance CEO Changpeng “CZ” Zhao said on Twitter that the business would sell all of its holdings in FTX's FTT token, Bankman-Fried announced his resignation. During the banking collapse, Binace executed a non-binding statement of intent to purchase FTX but later withdrew his offer.

Kraken CEO Jesse Powell

The CEO of the cryptocurrency exchange Kraken, Jesse Powell, resigned in September. He claimed that he expects to stay connected with the company, which he co-founded in 2011, but admitted that as Kraken increased in size, managing it's become more of a drain and “less pleasant.”

Just a few days after The New York Times revealed that Powell had written divisive texts to workers about his opinions on race and gender, Powell announced his departure.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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