Qredo Experiences Departures as It Focuses on Equity Business and Token Utility
According to sources familiar with the matter, Qredo, a crypto custodian, has seen several departures recently as it intensifies efforts to boost its equity business and create utility for its token. One of the founding team members, Benjamin Whitby, who served as vice president of strategic partnerships, was asked to leave. Whitby confirmed his departure but expressed his willingness to return if asked. Additionally, Qredo’s head of the Asia-Pacific region, Dan Burke, resigned to explore other opportunities. Luis Vaello, vice president of marketing and operations, declined a new contract and joined the Qredo Foundation instead.
Qredo’s Ongoing Challenges and Investor-Led Changes
The recent departures at Qredo come amidst ongoing challenges for the company. It underwent an investor-led management overhaul that removed its co-founder and CEO, Anthony Foy. Chief operating officer Josh Goodbody also resigned and joined the Qredo Foundation. The company has also experienced board changes. The investor leading these changes is Dan Tapiero’s 10T Holdings, which led Qredo’s Series A round in 2022 and recently led its debt financing round.
Commitment from 10T Holdings and Continued Investor Backing
Sources state that all recent departures and management changes at Qredo are aimed at ensuring success for its equity and token holders. There is a strong level of commitment from 10T Holdings, providing financial and resource support. The success of Qredo relies on continued backing from investors.
Hot Take: Qredo Faces Departures Amidst Efforts to Enhance Equity Business and Token Value
Qredo, a crypto custodian, is experiencing departures as it focuses on boosting its equity business and creating utility for its token. The recent departures include a founding team member, the head of the Asia-Pacific region, and the vice president of marketing and operations. These departures come amidst ongoing challenges and investor-led changes at Qredo. The company aims to ensure success for its equity and token holders, with strong commitment from investor 10T Holdings. Qredo’s future relies on continued backing from investors.
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