Industry News
Dec 26, 2024
Industry News
Industry News
Aptos Labs Co-Founder and CEO Mo Shaikh Resigns to “Start a New Chapter”
Aptos Labs co-founder and CEO, Mo Shaikh, stepped down from his role to pursue a “new chapter.”
The company’s CTO took over from Shaikh and expressed his ambitious vision for Aptos.
Shaikh said he would remain at Aptos Labs as a strategic advisor to help it realize its goals.
Aptos Labs Co-Founder and CEO Mo Shaikh announced in a recent X post that he is stepping down from his role.
Shaikh’s departure came three years after he co-founded the blockchain company together with Avery Ching to support Aptos, a Layer 1 (L1) proof-of-stake blockchain that claims to have been built with novel innovation and smart contract design to be a high-performance and scalable building block in the future of Web3. Aptos leverages the Move blockchain programming language, which was originally created for Facebook’s failed Diem (Libra) project.
Mo Shaikh Steps Down from Aptos Labs
In the lengthy post, Shaikh heralded Aptos as one of the most robust crypto ecosystems trusted by over a thousand developers and innovators globally. After his departure, he expressed confidence in Aptos Labs’ future, noting that the remaining team had the drive and passion to realize the company’s ambitious goal to create a resilient and scalable foundation for Web3 development.
“Today I am stepping away from Aptos Labs to start a new chapter,” Shaikh wrote. I leave Aptos Labs with the utmost confidence in the team, and strongly believe the talent and drive of Aptos Labs will bring our collective vision to life in the near future. Avery will be stepping in as the Aptos Lab’s CEO to drive the company into its next phase of growth.”
Shaikh’s time at the helm of Aptos Labs saw the company achieve considerable progress since its launch. In addition to assisting in Aptos mainnet launch in October 2022, Shaikh and his team raised $400 million in venture capital funding, with participation from Dragonfly, Blocktower, Haun Ventures, Hashed, IRONGREY, a16z, Apollo, Coinbase, Parafi, Scribble, and others.
The team also established strategic partnerships with financial industry heavyweights, such as BlackRock, PayPal, Google, Mastercard, Franklin Templeton, NBCU, BCG, and other “leading companies” across South Korea and Japan.
Despite his resignation from administrative roles, Shaikh noted that he would remain at Aptos Labs as a strategic advisor to help Aptos maintain its role as the world’s “leading” blockchain. In November, the company appointed Grayscale Investments CEO Michael Sonnenshein and OpenAI Chief Product Officer Kevin Weil to its advisory board to help bolster Aptos’ growth in AI, institutional adoption, and other endeavors.
“Over the coming months, I plan to take some much-needed time to reflect on where the world is headed and to think deeply about the ways financial systems can evolve to continue to push Aptos as the most established layer 1 in the space.” Shaikh added.
Ching, the outgoing Aptos Labs CTO, lauded Shaikh’s achievements and welcomed his new role as the CEO.
Ching Vows to Take Aptos to the Next Phase of Growth and Innovation
In an X post shared shortly after Shaikh broke the news of his resignation, Ching said he was honored to serve as Aptos Labs’ CEO and promised to “hit the ground running” in pursuit of the company’s ambitious goals.
“Supporting and growing the ambitious Aptos builders and community, pushing the boundaries of innovation in web3 technology, and high-velocity pioneering products are my immediate priorities for this next chapter,” Ching stated.
Ching further implied that he would drive regional growth in India, Korea, Vietnam, Japan, and China as he looked forward to meeting users and builders in the Aptos ecosystem. The bigger Aptos Labs team shared Ching’s vision and expressed confidence in his ability to help the company deliver “massive technical innovation” and fuel the ecosystem innovation engine on Aptos.
The shift in executive ranks at Aptos Labs came as blockchain-native companies realigned their leadership to explore new growth opportunities amid anticipated regulatory clarity in the U.S., Europe, and parts of Asia.
In another development, the Sui Foundation, the organization overseeing Sui blockchain’s growth and development, named Christian Thompson as its new managing director. Thompson, a former Meta and Mysten Labs team member, replaced Greg Siourounis, who served as the foundation’s managing director since its inception in 2023.
Aptos Labs co-founder and CEO, Mo Shaikh, stepped down from his role to pursue a “new chapter.”
The company’s CTO took over from Shaikh and expressed his ambitious vision for Aptos.
Shaikh said he would remain at Aptos Labs as a strategic advisor to help it realize its goals.
Aptos Labs Co-Founder and CEO Mo Shaikh announced in a recent X post that he is stepping down from his role.
Shaikh’s departure came three years after he co-founded the blockchain company together with Avery Ching to support Aptos, a Layer 1 (L1) proof-of-stake blockchain that claims to have been built with novel innovation and smart contract design to be a high-performance and scalable building block in the future of Web3. Aptos leverages the Move blockchain programming language, which was originally created for Facebook’s failed Diem (Libra) project.
Mo Shaikh Steps Down from Aptos Labs
In the lengthy post, Shaikh heralded Aptos as one of the most robust crypto ecosystems trusted by over a thousand developers and innovators globally. After his departure, he expressed confidence in Aptos Labs’ future, noting that the remaining team had the drive and passion to realize the company’s ambitious goal to create a resilient and scalable foundation for Web3 development.
“Today I am stepping away from Aptos Labs to start a new chapter,” Shaikh wrote. I leave Aptos Labs with the utmost confidence in the team, and strongly believe the talent and drive of Aptos Labs will bring our collective vision to life in the near future. Avery will be stepping in as the Aptos Lab’s CEO to drive the company into its next phase of growth.”
Shaikh’s time at the helm of Aptos Labs saw the company achieve considerable progress since its launch. In addition to assisting in Aptos mainnet launch in October 2022, Shaikh and his team raised $400 million in venture capital funding, with participation from Dragonfly, Blocktower, Haun Ventures, Hashed, IRONGREY, a16z, Apollo, Coinbase, Parafi, Scribble, and others.
The team also established strategic partnerships with financial industry heavyweights, such as BlackRock, PayPal, Google, Mastercard, Franklin Templeton, NBCU, BCG, and other “leading companies” across South Korea and Japan.
Despite his resignation from administrative roles, Shaikh noted that he would remain at Aptos Labs as a strategic advisor to help Aptos maintain its role as the world’s “leading” blockchain. In November, the company appointed Grayscale Investments CEO Michael Sonnenshein and OpenAI Chief Product Officer Kevin Weil to its advisory board to help bolster Aptos’ growth in AI, institutional adoption, and other endeavors.
“Over the coming months, I plan to take some much-needed time to reflect on where the world is headed and to think deeply about the ways financial systems can evolve to continue to push Aptos as the most established layer 1 in the space.” Shaikh added.
Ching, the outgoing Aptos Labs CTO, lauded Shaikh’s achievements and welcomed his new role as the CEO.
Ching Vows to Take Aptos to the Next Phase of Growth and Innovation
In an X post shared shortly after Shaikh broke the news of his resignation, Ching said he was honored to serve as Aptos Labs’ CEO and promised to “hit the ground running” in pursuit of the company’s ambitious goals.
“Supporting and growing the ambitious Aptos builders and community, pushing the boundaries of innovation in web3 technology, and high-velocity pioneering products are my immediate priorities for this next chapter,” Ching stated.
Ching further implied that he would drive regional growth in India, Korea, Vietnam, Japan, and China as he looked forward to meeting users and builders in the Aptos ecosystem. The bigger Aptos Labs team shared Ching’s vision and expressed confidence in his ability to help the company deliver “massive technical innovation” and fuel the ecosystem innovation engine on Aptos.
The shift in executive ranks at Aptos Labs came as blockchain-native companies realigned their leadership to explore new growth opportunities amid anticipated regulatory clarity in the U.S., Europe, and parts of Asia.
In another development, the Sui Foundation, the organization overseeing Sui blockchain’s growth and development, named Christian Thompson as its new managing director. Thompson, a former Meta and Mysten Labs team member, replaced Greg Siourounis, who served as the foundation’s managing director since its inception in 2023.
Aptos Labs co-founder and CEO, Mo Shaikh, stepped down from his role to pursue a “new chapter.”
The company’s CTO took over from Shaikh and expressed his ambitious vision for Aptos.
Shaikh said he would remain at Aptos Labs as a strategic advisor to help it realize its goals.
Aptos Labs Co-Founder and CEO Mo Shaikh announced in a recent X post that he is stepping down from his role.
Shaikh’s departure came three years after he co-founded the blockchain company together with Avery Ching to support Aptos, a Layer 1 (L1) proof-of-stake blockchain that claims to have been built with novel innovation and smart contract design to be a high-performance and scalable building block in the future of Web3. Aptos leverages the Move blockchain programming language, which was originally created for Facebook’s failed Diem (Libra) project.
Mo Shaikh Steps Down from Aptos Labs
In the lengthy post, Shaikh heralded Aptos as one of the most robust crypto ecosystems trusted by over a thousand developers and innovators globally. After his departure, he expressed confidence in Aptos Labs’ future, noting that the remaining team had the drive and passion to realize the company’s ambitious goal to create a resilient and scalable foundation for Web3 development.
“Today I am stepping away from Aptos Labs to start a new chapter,” Shaikh wrote. I leave Aptos Labs with the utmost confidence in the team, and strongly believe the talent and drive of Aptos Labs will bring our collective vision to life in the near future. Avery will be stepping in as the Aptos Lab’s CEO to drive the company into its next phase of growth.”
Shaikh’s time at the helm of Aptos Labs saw the company achieve considerable progress since its launch. In addition to assisting in Aptos mainnet launch in October 2022, Shaikh and his team raised $400 million in venture capital funding, with participation from Dragonfly, Blocktower, Haun Ventures, Hashed, IRONGREY, a16z, Apollo, Coinbase, Parafi, Scribble, and others.
The team also established strategic partnerships with financial industry heavyweights, such as BlackRock, PayPal, Google, Mastercard, Franklin Templeton, NBCU, BCG, and other “leading companies” across South Korea and Japan.
Despite his resignation from administrative roles, Shaikh noted that he would remain at Aptos Labs as a strategic advisor to help Aptos maintain its role as the world’s “leading” blockchain. In November, the company appointed Grayscale Investments CEO Michael Sonnenshein and OpenAI Chief Product Officer Kevin Weil to its advisory board to help bolster Aptos’ growth in AI, institutional adoption, and other endeavors.
“Over the coming months, I plan to take some much-needed time to reflect on where the world is headed and to think deeply about the ways financial systems can evolve to continue to push Aptos as the most established layer 1 in the space.” Shaikh added.
Ching, the outgoing Aptos Labs CTO, lauded Shaikh’s achievements and welcomed his new role as the CEO.
Ching Vows to Take Aptos to the Next Phase of Growth and Innovation
In an X post shared shortly after Shaikh broke the news of his resignation, Ching said he was honored to serve as Aptos Labs’ CEO and promised to “hit the ground running” in pursuit of the company’s ambitious goals.
“Supporting and growing the ambitious Aptos builders and community, pushing the boundaries of innovation in web3 technology, and high-velocity pioneering products are my immediate priorities for this next chapter,” Ching stated.
Ching further implied that he would drive regional growth in India, Korea, Vietnam, Japan, and China as he looked forward to meeting users and builders in the Aptos ecosystem. The bigger Aptos Labs team shared Ching’s vision and expressed confidence in his ability to help the company deliver “massive technical innovation” and fuel the ecosystem innovation engine on Aptos.
The shift in executive ranks at Aptos Labs came as blockchain-native companies realigned their leadership to explore new growth opportunities amid anticipated regulatory clarity in the U.S., Europe, and parts of Asia.
In another development, the Sui Foundation, the organization overseeing Sui blockchain’s growth and development, named Christian Thompson as its new managing director. Thompson, a former Meta and Mysten Labs team member, replaced Greg Siourounis, who served as the foundation’s managing director since its inception in 2023.
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