Shocking Resignation in the Crypto World: Loopring CEO Now Focuses on His Family
According to a recent Medium blog post titled “Time to Say Goodbye,” Steve Guo of Loopring has stated that he will be leaving his position as CEO in August 2025. He explained the sudden departure by saying he needed to spend more time with his family.
It’s never easy to say goodbye, especially to a project I’ve poured so much heart and energy into, but the time has come to move forward,
Guo
The Ex-Leader Message Highlights Growth, Challenges, and Tough Decisions
He talks about the project’s highs and lows throughout his tenure as its leader in his message to the community. He asserted that by adding native features like dual investment, block trading, and a portal, the project was able to construct an ecosystem powered by DeFi on top of the preexisting framework. On the other hand, when the project revealed that it would be discontinuing operations for its Smart Wallet division, one of its significant expenditures turned out to be a double-edged sword. The community was furious when the protocol stopped supporting its wallet interface in late June of this year.
LRC Price Increases Following Leadership Change
Instead of a decline in value, LRC appears to have increased by 9.1% since Guo broke the protocol. It is trading at about $0.09920 at the time of writing. This stands in stark contrast to other instances in which the token of Story Protocol (IP) declined due to the departure of its co-founder, Jason Zhao, in mid-August, for example. However, by early September, the abrupt increase had given way to a subsequent cycle adjustment. After a brief surge toward $0.115, the token’s price swiftly dropped back to the $0.099–$0.100 region. This spike implies that traders made speculative purchases in response to the announcement at first, perhaps driven by apprehension and hopes that the project’s course would be altered by the new leadership.
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