According to Blockworks, crypto trading firm and liquidity provider, GSR, has announced the appointment of two new co-CEOs, Rich Rosenblum and Xin Song, effective from July 1. The current CEO, Jakob Palmstierna, will transition to a president role and will lead GSR’s client franchise. Rosenblum, a former Goldman Sachs professional, is a co-founder of GSR, while Song joined GSR in 2019 and has been instrumental in building the company’s Asia business.
GSR Chair Cristian Gil stated that the crypto industry is at a turning point, necessitating agility and innovation in serving clients while also proactively positioning for the future. In other executive changes in the crypto industry, Jump Crypto President Kanav Kariya announced his departure from the firm. Kariya, who has held the president post for nearly three years, has not yet committed to a new role but plans to stay engaged with the portfolio companies he has been most involved with.
In addition, Richard Chen, a general partner at seed-focused crypto venture fund 1confirmation, is also leaving his company after more than six years. Chen hinted at starting something new soon. In other developments, Point72 Ventures, the asset manager founded by billionaire Steve Cohen, has reportedly laid off its fintech and crypto-focused team as part of a shift to AI, according to Forbes. Crypto exchange Coinme has appointed Robert Villaseñor as its chief legal and compliance officer. Villaseñor was previously general counsel, corporate secretary, and chief administrative officer for MoneyGram International.