Kraken’s Jesse Powell to Step Down as CEO of Crypto Exchange

Jesse Powell, co-founder and CEO of crypto exchange Kraken, is planning to step down as CEO of the company, Kraken confirmed with CoinDesk. The Wall Street Journal first reported on the news.

Kraken’s current chief operating officer Dave Ripley, will take over as CEO.

Powell will remain as Kraken’s chairman of the board, and plans to remain active in the company, working on product development and crypto industry advocacy, the Journal reported.

This is a developing story and will be updated.

UPDATE (Sept. 21, 18:44 UTC): Removed "report" from headline and added Kraken's confirmation.