LedgerX Names Former Chief Tech Officer as New CEO

 

LedgerX declared Friday co-founder and previous main engineering officer Zach Dexter has been named the new main government of the bitcoin derivatives business.

The company suspended CEO Paul Chou and COO/CRO Juthica Chou past month, with no explanation. The two were being also co-founders of the business. Depository Have faith in and Clearing Corporation vice chairman Larry Thompson was named interim CEO and guide director of Ledger Holdings.

In a assertion, Thompson explained, “since my involvement with the business commenced, we have kept in near get in touch with with all of the company’s stakeholders which includes employees, buyers and regulators and have stored the CFTC fully apprised of the company’s actions which include the current financing.”

His statements would look to conflict with a letter despatched to LedgerX’s board and the CFTC Office environment of the Inspector Basic by a member of its board of administrators. In the letter, Nicholas Owen Gunden wrote that as an trader, he experienced acquired limited communications from the organization, and was anxious about its functions.

LedgerX also announced that it shut a “significant” financing round “led by the company’s most significant traders like Digital Finance Team.” The sum elevated was not disclosed, but the resources will be applied to carry on far more senior executives, the release reported.

Dexter was a section of the LedgerX workforce for the 1st five and a fifty percent a long time of the company’s functions, leaving in May possibly 2019 to be part of Mirror, a tech conditioning startup.

Thompson and Dexter did not quickly reply to a request for remark.

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The chief in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic specifications and abides by a demanding set of editorial insurance policies. CoinDesk is an independent functioning subsidiary of Electronic Forex Group, which invests in cryptocurrencies and blockchain startups.

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