GSR named two new co-CEOs as it looks to innovate what it considers to be a turning point for the crypto space.
Rich Rosenblum and Xin Song will each take on chief executive duties starting July 1, the crypto trading firm and liquidity provider said Wednesday.
CEO Jakob Palmstierna will transition to a president role and will lead GSR’s client franchise.
Rosenblum, a former Goldman Sachs pro, co-founded GSR. Song came to GSR in 2019 and built out the company’s Asia business.
“The industry is at an inflection point and we must remain agile and innovative in how we serve our clients today while also proactively positioning ourselves for the future,” GSR Chair Cristian Gil said in a statement.
In another crypto executive update, Jump Crypto President Kanav Kariya said he was leaving the firm.
Kariya, who had served in the crypto company’s president post for nearly three years, noted in a Monday X post that he has not yet committed to a new role.
Today marks the end of an incredible personal journey for me. It’s my last day at Jump, a moment I’m receiving with both a heavy heart and great excitement about the road ahead. I’m leaving with a set of awesome relationships and unique, invaluable and shaping experiences. It’s…
— Kanav Kariya (@KanavKariya) June 24, 2024
“As for what’s next, I plan to stay engaged with the portfolio companies I’ve been most involved with and hopefully take some time to process the unbelievably eventful few years we’ve had,” he said.
Richard Chen, a general partner at seed-focused crypto venture fund 1confirmation, is also leaving his company after six-plus years there.
“So what’s next?” he said on X. “I’m starting something new and excited to share the details with you all soon.”
Other Notable Developments
Point72 Ventures, the asset manager founded by billionaire Steve Cohen, laid off its fintech and crypto-focused team as part of a shift to AI, Forbes reported.
Scoop: billionaire Steve Cohen’s firm Point72 Ventures has laid off its fintech investment team as part of a shift in strategy away from fintech and crypto to (surprise!) AI.
Multiple partners are expected to leave. By @emilymason00 and me for @forbes
https://t.co/uOoTUqsYy3
— Alex Konrad (@alexrkonrad) June 27, 2024
Crypto exchange Coinme added Robert Villaseñor as its chief legal and compliance officer. He was most recently general counsel, corporate secretary and chief administrative officer for MoneyGram International.
