Like Consensys and many other firms that are involved in the blockchain industry, Digital Asset has been losing key employees during the bear market, though not for the reason you might think. Last year, Blythe Masters, who was a relatively celebrated member of the industry due to her ability to connect crypto with institutional money, stepped down as Digital Asset’s CEO.
At the time, Bloomberg panned her exit as if it was a sort of precursor to the end of a short bubble. In other words, to them, it was all over for the cryptocurrency space. Soon after, that idea was proven false and yet, Digital Asset did not truly appoint a new CEO until today.
Between December and now, they had been running under the guidance of an acting CEO, while experiencing several exits of key employees that CoinDesk claims were connected to the departure of Masters. Whether or not this is the case, it is clear that Digital Asset has been standing on shaky ground for quite some time.
Now that their new leader is Yuval Roos, who was one of the company’s co-founders, the ship appears to have been righted for the time being for two key reasons. First, Roos has been with the firm as its’ COO and CFO at different times, before ascending to this position. This signals that he knows the ins and outs of just about every department and process, at least according to Digital Asset’s board of directors. Second, now their position has likely been strengthened with regards to their work with the Australian Securities Exchange, that involves improving the way the ASE deals with the final stages of transactions.
More than one exit of an important employee is never a good thing, especially while a company is in a state of flux related to its’ highest position. Given the fact that the Director of Digital Asset’s board has painted Roos as the one obvious candidate to lead the company to success, it will be interesting to see exactly what that means.
By: BGN Editorial Staff