Kraken announced the appointment of Arjun Sethi as Co-CEO of the leading crypto exchange, offering margined spot trading, parachain auctions, staking, regulated derivatives and index services under a same roof.

Alongside David Ripley, who will become co-CEO, the two would lead Kraken to fulfill its mission: to accelerate the global adoption of crypto so that everyone can achieve true financial freedom and inclusion.

Arjun Sethi is a leading venture capitalist in Silicon Valley.

In addition to being the new co-CEO of Kraken, Arjun Sethi is also co-founder and chairman of Tribe Capital and is widely recognized as one of the leading early-stage venture capitalists in Silicon Valley.

Notable investments include xAI, Rippling, Applied Intuition, Slack, Gusto, Swarm and Carta. Sethi is also a two-time successful founder who joined Yahoo’s executive team, where he led data and analytics teams and managed mobile and emerging products.

“He’s someone who gets things done.”

Jesse Powell, Co-Founder and Chairman of the Board of Directors of Kraken, commented: “Arjun has served on the Kraken Board of Directors since 2021 and has helped us overcome many of our toughest challenges. That’s why I have complete confidence in him to bring new leadership and new impetus to what we do. He is someone who gets things done and it shows through the many companies he has helped over the course of his career, both as a founder and as an investor.

Dave Ripley, Co-CEO of Kraken, added: “Arjun and I have worked closely together for several years and I have seen first-hand what he brings. I’m excited to team up with him as we plan Kraken’s next phase of growth.

“Kraken is one of the strongest N-of-1 companies I have ever seen”

Arjun Sethi, Co-CEO of Kraken, added: “Kraken is one of the strongest N-of-1 companies I have ever seen. And I’ve spent my career building N-of-1 companies. These transformative companies build products around themselves as a central utility, using the network effect to dominate entire ecosystems.

“Kraken has built incredible customer loyalty by building a bridge between the old world and the new. This strong connection of the client’s mission to build a bridge between the old world and the new – rooted in encryption, free markets, currency choice, privacy and security.

“A strong bond of trust means that networks quickly form around everything Kraken builds. With Jesse, Dave, and the rest of the leadership team, we will gain momentum and continue to push the boundaries of innovation in crypto and beyond.

Kraken has launched a BMA-regulated derivatives site in Bermuda

Earlier this month, Kraken launched a regulated derivatives platform in Bermuda, after securing a BMA license in the jurisdiction to provide a crypto derivatives trading offering to users. From Bermuda, Kraken will initially offer perpetual and fixed maturity futures contracts against a diverse range of collateral options, including fiat currency and over thirty cryptocurrencies.