According to Blockworks, GSR has appointed Rich Rosenblum and Xin Song as new co-CEOs in a bid to innovate what it sees as a turning point in the crypto space. The two will take on their chief executive roles starting July 1. Current CEO Jakob Palmstierna will move to president and will lead GSR's client franchise. Rosenblum, a former Goldman Sachs professional, is a co-founder of GSR. Song joined GSR in 2019 and built the firm's Asian business. "The industry is at an inflection point, and we must remain flexible and innovative to meet the needs of our current customers while also actively preparing for the future," GSR Chairman Cristian Gil said in a statement. Kanav Kariya, president of Jump Crypto, another crypto industry executive, said he would leave the company. In addition, Richard Chen, general partner of 1confirmation, a crypto venture capital fund focused on the seed stage, will also leave the company where he has worked for more than six years.