INTERNATIONAL – Blockchain startup Digital Asset’s chief executive officer and one of the most prominent supporters of the distributed ledger technology on Wall Street, Blythe Masters, is stepping down after about four years in the role, the company said on Tuesday.
AG Gangadhar, a former Uber executive who joined Digital Asset's board in April, has been appointed as the chairman and will serve as the acting CEO while the company looks for a new chief executive, it said.
Blockchain, which first emerged as the software underpinning cryptocurrency bitcoin, is a shared record of transactions that is maintained by a network of computers on the internet.
Masters, a former JPMorgan banker, led Digital Asset through its global expansion and helped it raise millions of dollars including from some of the world’s largest banks.
Masters will remain as a board member, strategic advisor and shareholder, Digital Asset said.
Masters said in a statement: “Digital Asset has evolved from an ambitious idea to a truly global software engineering firm. We are fortunate to have a deep bench of accomplished executives on the management team and Board, including AG, who have the requisite experience to take the company to the next level. Having come to know and trust AG as an advisor and Board member, I am convinced that he brings what’s needed to guide the company through its next phase.”