Kraken COO to become CEO

Kraken COO Dave Ripley will succeed Co-founder and CEO Jesse Powell as the company's top executive.

Powell will become chairman of the board of directors.

Ripley will assume the CEO role after the crypto platform completes a COO search.

"My vision, along with the rest of the leadership team, is in lockstep with Jesse's – to accelerate the adoption of cryptocurrency," Ripley said.