LedgerX has revealed that the former Chief technology officer, Zach Dexter, has been named as the new company CEO. LedgerX CEO Dexter himself is yet to comment regarding the subject.
LedgerX CEO ousted
Ledger suspended the company founders Paul Chou and Juthic Chou without giving any explanation. The two held the positions of CEO and COO, respectively. Since then, the vice-chairman of Depository Trust and Clearing Corporation Larry Thompson was named the interim CEO and lead director of Ledger Holdings.
Thompson stated that the company’s shareholders have maintained contact with US Commodity Futures Trading Commission (CFTC) and kept the agency noted about the events occurring in the company.
However, his statement appears to be in conflict with a letter sent to the CFTC by a member of its board of directors. In the letter, board member Nicholas Owen claimed that he had limited contact with the company despite being an investor in the firm. He stated that these actions of the company made him concerned. The letter was sent to both the CFTC as well as LedgerX’s board.
The letter also expressed concern over the manner in which the company’s founders were “barred” from their roles in the firm. Since the founders left, he had been unable to contact the company.
LedgerX CEO Zach Dexter
The firm’s new CEO, Zach Dexter, worked with the company for the first five years of the firm. After that period, he left the company in May last year to join a tech fitness firm known as Mirror.
The firm also revealed that the company had ended a “significant” funding round that was led by the firm’s long-time investor Digital Finance Group.
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