Want to know Kraken CEO Jesse Powell’s net worth? Tech genius Jesse Powell and Thanh Luu 2011, co-founded the company named Kraken. Now, Kraken is the fourth-largest crypto exchange by volume. Recently, the CEO has been making headlines for a few controversial reasons, as a few rumors have been doing the rounds. While Jesse Powell recently made a big announcement of stepping down as the CEO of Kraken, he still plans to remain actively involved with the company.
Moreover, Jesse will become chairman of Kraken’s board and will, thus, continue to work on product development and crypto industry advocacy. When asked about the reason for his stepping down, Powell admitted that as the company has gotten bigger, it’s just gotten to be more draining on him and less fun. He further revealed that he informed Kraken’s board of his impending departure over a year ago while denying some of the ongoing allegations against him. Let us take a look at all the details and lesser-known facts about Jesse Powell’s net worth.
What is Jesse Powell’s net worth?
Jesse Powell’s net worth is estimated to be something around $550 million. Powell’s company Kraken has earlier voiced much about its “crypto-first” values while releasing a manifesto that talks about its libertarian ideology while giving employees that liberty where they can take an exit package and leave the company if they disagreed with those values. While a few employees took the offer, the majority of these people chose to stay at the exchange. However, this debate has ignited a few controversies about Jesse Powell.
Powell has addressed these topics and shared more about his post-CEO plans and has also talked about it in length now that he is stepping down. As Dave Ripley will replace Powell, the company has issued a statement saying how Ripely was chosen following a “rigorous internal and external search” over the past year. While Mr. Powell reportedly plans to spend more of his time focusing on “the company’s products, user experience, and broader industry advocacy, as explained by the company.
Why is Jesse Powell Stepping Down?
The tech world is taken by surprise after the Kraken CEO Jesse Powell reportedly decided to step down from his position. While there hasn’t been any confirmed report about it, all rumors have it that Jesse was allegedly been sending rather controversial messages to employees regarding his views on race and gender.
Another media tabloid has further claimed that Kraken is reportedly under investigation by the U.S. Treasury Department over allegations as it has allegedly violated sanctions by allowing users in Iran to transact on its platform. An insider has, however, stated that Powell has been considering stepping down for some time, and the search for the new CEO has been ongoing for almost a year now.
What does Jesse Powell Say About It All?
Jesse Powell has recently addressed the news of him stepping down as the CEO in a press release. As Powell will be replaced by Dave Ripley, who joined Kraken years ago when the exchange acquired Glidera, which is a crypto wallet firm that he co-founded and of which he served as CEO.
Powell has stated how Dave’s proven leadership and experience give him great confidence that he is the ideal successor and the best person to lead Kraken through its next era of growth. Powell further added that with this, he looks forward to spending more of his time on the company’s products and user experience, along with broader industry advocacy, and will focus more on the mentioned topics.
