Jesse Powell, co-founder of crypto exchange Kraken, will step down as CEO, the business announced on Wednesday. According to a blog post by Kraken, Dave Ripley, the company’s chief operations officer, will succeed Powell as CEO. Powell made the decision to concentrate on the company’s products, user experience, and “broader industry advocacy,” according to his blog post. Powell will now be appointed as the chairman of Kraken’s board of directors. According to a June New York Times investigation, Powell sparked a “cultural war” within the corporation by questioning the usage of preferred pronouns, debating who might use racial slurs, and labeling American women “brainwashed.”
