Chief Strategy Officer (CSO) Phil Potter of Bitfinex crypto exchange is resigning from the company. Potter will be replaced in the interim by Bitfinex CEO, Jean-Louis van der Velde.
According to Reuters reports June 22, Potter said in a statement,
“As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team. It’s been an incredible journey over these past four years, and while I wish my colleagues success and good fortune in their ongoing endeavors, I am also looking forward to new opportunities for myself in the days ahead.”
Owned by a British Virgin Islands company, Bitfinex is the fourth-largest cryptocurrency exchange in the world by trading volume. It enables traders to buy and sell virtual currencies such as bitcoin and ether. It also shares management with Tether, a company that issues a digital tokens pegged to the U.S. dollar.
Tether critics have raised concerns over the past year about whether it actually holds $1 in reserve for every token issued, as it claimed. Earlier this month a University of Texas research paper alleged Tether’s token could have been used to manipulate bitcoin’s price last year during its meteoric rise. Bitfinex has denied these claims.
Read More: A Study by University of Texas: Bitcoin Price Was Manipulated Last Year
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