The Board of Directors of Bittrex Global (Vaduz) and Bittrex Global (Bermuda), has announced that its current CEO Tom Albright has stepped down from his role of both companies effective today.
Bittrex Global is one of the largest crypto exchanges in the world and along with other such exchanges, it has been seeing growth in revenue and trading volumes over the last few months as the interest in the crypto world continues to increase.
No reason has been given for Mr. Tom stepping down and considering the general low-profile that the exchange seeks to maintain, it is doubtful whether the real reasons for him to step down would ever be known.
The Board has decided to appoint the current CFO and COO of Bittrex Global, Stephen Stonberg, as the interim CEO and has stated that he would be overseeing the management of the companies.
“Tom has brought key leadership as Bittrex Global has grown to serve the crypto marketplace,” said Bill Shihara, Co-Founder Bittrex, Inc. “Tom has also helped guide the company through a period of significant growth and change within our sector”.
“We are incredibly pleased that Stephen Stonberg will be leading Bittrex Global as interim CEO,” said Shihara. “Stephen has served as CFO and COO since February 2019, and has a deep understanding of our business, and has over 25 years experience in the financial services sector, and held leadership roles in blue-chip banking institutions. As more retail and institutional investment enters the cryptocurrency market, individuals like Stephen will be instrumental in bridging the gap between traditional finance and the cryptocurrency world.”
Mr. Stonberg has previously worked in Goldman Sachs where he was in the investment management division and he had also worked in Credit Suisse as its director. He joined Bittrex at the beginning of 2019 and since then, it has been a steady growth for him within the company to become the CEO as of today.
“I look forward to continuing the drive for innovation at Bittrex Global. Our new offerings such as tokenized securities (through Bittrex Global Bermuda Ltd.) are revolutionizing the crypto market. We have many more exciting opportunities on the horizon,” said Stonberg.
It may be noted that it was only last year that the company got a license from Bermuda to operate its Crypto exchange and it is expected that it will be expanding its offerings in the coming months to keep abreast of the fast-changing environment in the crypto world.