Ledger Holdings Inc., the parent company to LedgerX LLC, a regulated cryptocurrency derivatives exchange, announced on Friday that LedgerX co-founder and former CTO, Zach Dexter, as the new CEO. This news comes less than six months after LedgerX’s former CEO, Paul Chou, issued a “profanity-laced” tirade on Twitter after the Commodity Futures Trading Commission contradicted the company claims that it had become the first crypto-derivatives platform in the US to launch physically-settled bitcoin futures contracts to retail investors.
According to Ledger Holdings, Dexter brings deep experience with technology, cryptocurrency and bitcoin derivatives. During his time as Co-Founder and CTO, Dexter led many of LedgerX’s regulatory and controls audits, drove all technical aspects of the company’s successful exchange and clearinghouse license applications, and developed the company’s trading, custody and settlement systems. Dexter’s experience with high-growth consumer products aligns with LedgerX’s new retail-focused strategy.
Along with the new CEO announcement, Ledger Holdings announced its latest investment round led by the company’s largest investors, which included Digital Finance Group that will shore up operational enhancements and allow the company to secure a number of additional senior executives. Larry E. Thompson, Ledger Holdings Inc.’s Interim CEO, added:
“We are excited to conclude this important financing as we move forward into the next phase of our business. Since my involvement with the company began, we have kept in close contact with all of the company’s stakeholders including employees, investors and regulators and have kept the CFTC fully apprised of the company’s actions including the recent financing.”