Table of Contents

· Multiple executives from mainstream projects have resigned within 2 months

·Is it a new adventure or limited development?

According to BlockBeats observation, in the past two months, several mainstream crypto project executives or leaders have announced their resignation, including co-founders, CEOs, and directors. Some of them choose to return to Web2, some move to niche fields, and others start their own companies, embarking on "new adventures".

2 个月内多个主流项目高管离职

Within 2 months, multiple high-level executives from mainstream projects have resigned.According to BlockBeats incomplete statistics, in the past two months, multiple mainstream projects including Uniswap, YugaLabs, Polygon, Lido Finance, and Galaxy Digital have seen a series of high-level executives resigning.

On October 13th, Lindsay Ezykowich, the Director of Partnerships at YugaLabs, officially announced her resignation. In her post, Lindsay stated that "at @10KTFshop, I am thrilled to have worked with an incredible team who truly brought the Web3 community together."

It is worth noting that Lindsay's employment at 10KTFshop is also an NFT project, just like YugaLabs. The project is operated by digital craftsman Wagmi-san and mainly provides accessories and digital products for NFT products including Bored Ape Yacht Club and CryptoPunk.

However, 10KTFshop is a subsidiary of the blockchain technology company WENEW, which was acquired by Yuga Labs at the end of 2022. Therefore, Lindsay's job change can be seen as a development towards a more specialized field within NFTs, rather than leaving the Yuga Labs ecosystem.

Also seeking greater development is Seraphim Czecker of Lido Finance. On October 30th, Lido Finance's DeFi Expansionist Seraphim Czecker (@MacroMate8) announced that he has left the Lido Finance DAO, stating that "it is difficult to have a significant growth impact when the project is already so successful (which is very important to me)."

And in the subsequent update, Seraphim hinted that he will be working on the UK social media platform OnlyFans. It can be seen that after leaving Lido, Seraphim chose to return to the Web2 field.

On October 4th, Jaynti Kanani, co-founder of Ethereum L2 network Polygon, announced on social media that he will be stepping down from his "daily" work on the network. However, he remains confident in Polygon's bright future and passionate community, and will focus on "new adventures" while still supporting Polygon from the sidelines.

Matteo Leibowitz, the strategic director of Uniswap (@teo_leibowitz), announced his resignation on September 30 after three years with the company. In his resignation announcement, he expressed his reluctance and gratitude: "Joining a company in its early stages and watching it grow into a decisive force in the industry is a very special thing... The past few years have been a huge growth, education, and reward."

However, Matteo's resignation this time does not indicate the next direction, but it can be seen that after three years of training at Uniswap, Matteo may also embark on a "new adventure"

Related reading: "Uniswap, the most successful US internet fintech company under the Web3 dividend"

As an absolute leader in the DeFi field and a typical symbol of the Web3 permissionless world, every move of Uniswap is influencing the development direction of the entire industry. However, upon closer observation, we will find that Uniswap is not like a "Web3 team" defined by the mainstream, but rather a US internet startup company.

Additionally, on October 3rd, Amanda Fabiano, the mining director of Galaxy Digital, announced her resignation on social media and founded a consulting service company called Fabiano Consulting. The company mainly helps Bitcoin mining enterprises develop their business. Prior to this, Amanda worked at Galaxy for three years, establishing the company's mining business and providing operational and capital market products. She also served as the Bitcoin mining director at Fidelity Investments.

In her resignation statement, Amanda stated that "Given my background and experience from an institutional perspective, I find myself in a unique position to help those seeking to enter the mining industry develop effective strategies. In the previous market cycle, we witnessed a large influx of newcomers into the market, and I don't think this time will be any different."

At the same time, many projects have welcomed new members, such as ZK Stack and Delphi_Digital. On November 1st, well-known Web3 developer @zkLumi announced joining Matter Labs as the Senior Product Manager of ZK Stack, "leading the team to develop the strategy, structure, and roadmap of ZK Stack, and providing developers with the tools, support, and resources needed for success".

It is reported that Zk Stack is built on the zkSync backend and is a developer-friendly and scalable modular framework that allows anyone to deploy interoperable L3/L2 blockchains on public bridges, solving the problem of scalability. The hiring has also been recognized by LambdaClass CEO Federico Carrone, who commented under the hiring announcement, "This is good news, and we hope to work closely with you."

It's not just a coincidence that Web3 developer @yusufxzy has also announced joining Delphi Digital as a research analyst to work with the infrastructure team.

"New Adventure" or Limited Development?

Other than the mainstream crypto projects mentioned above, there have also been frequent personnel changes among the senior management within Paradigm, which has sparked much discussion within the crypto community. Many believe that the new personnel appointments are "unrealistic" and reflect the challenges faced by Paradigm.

Related reading: "Paradigm high-level turmoil, what happened to the top crypto VC internally?"

Paradigm's history and current situation are full of stories worth exploring, with passion, controversy, and twists and turns. Recent departures of Fred Ehrsam, promotions of new partners, and disputes with investment projects all reflect the challenges Paradigm faces in pursuing innovation and leading the industry, with every step accompanied by risks and unknowns.

Behind the frequent personnel changes, there are also subtle changes in the crypto industry. On the one hand, according to previous reports by BlockBeats, there have been many projects announcing shutdowns recently, which has also brought more uncertainty to the industry.

Related reading: "Multiple projects announce shutdowns, is the crypto industry facing a "shutdown wave"?"

According to incomplete statistics from BlockBeats, there were 9 project teams, exchanges, and communities that shut down in the cryptocurrency industry in 2021, 17 in 2022, and 27 in 2023. At the same time, in 2023, the growth rate of shutdown projects is getting faster and faster, increasing from an average of 1 per month to a maximum of 5 per month. Behind these events, every participant in the crypto industry, from community operations to project financing, feels the chill of the bear market.

On the other hand, with the recent slight rebound in the market, more crypto talents are also choosing to embrace "new adventures". As Seraphim Czecker, DeFi Expansionist of Lido Finance, said, "When the project is already so successful, it is difficult to have a significant impact on growth (which is very important to me)."

For some people in the crypto industry, no change is a worrying thing. When they see that a project can no longer achieve greater success, these people will not hesitate to step out of their comfort zone and explore a more challenging path of development.

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