Gemini exec to join Bitstamp crypto exchange as new CEO

Bitstamp is replacing its CEO for the first time since the company's establishment.

Bitstamp, one of the world's oldest and largest cryptocurrency exchanges, is replacing its CEO for the first time.

Nejc Kodri?, the firm's CEO who co-founded Bitstamp back in 2011, is stepping down from his position.

He will be moving into a new advisory role on the company's board of directors, Bitstamp executives told Cointelegraph on Oct. 22.

Julian Sawyer, who currently serves as the managing director of the United Kingdom and Europe at major global crypto exchange Gemini, will replace Kodri?, becoming the second CEO in Bitstamp's history.

At the time, Bitcoin was trading at a few cents, and Kodri? managed to set up the exchange in a garage with 1,000 euro, two laptops and a server.

Now, Bitcoin is trading at $12,783, while Bitstamp is one of the world's top crypto exchanges.

"After much thought, I've come to the conclusion that Bitstamp has already grown beyond what I envisioned it would become and it is time for someone else to expand this vision further Although we've grown exponentially, it still feels like Bitstamp is just getting started."

At publishing time, Bitstamp is ranked the eighth-largest crypto exchange by daily trading volumes of around $373 million, according to data from CoinGecko.

The exchange provides trading services for seven major cryptocurrencies, among them Bitcoin, Ether and XRP..