Blythe Masters comes down as CEO of Blockchain Startup Digital Asset


Blythe Masters quit his job as a JPMorgan Chase executive in 2014, and shortly thereafter became CEO of Digital Asset, a blockchain startup that targets banks and start-ups. Now, three and a half years later, he is resigning.

Tuesday Digital Asset announced that Masters will leave for personal reasons and that AG Gangadhar, which joined the company's board of directors in April, will act as CEO.

The unexpected move comes as a stop for Digital Asset, since Masters is highly respected in the blockchain industry and one of the tallest women in a men-dominated industry. Blythe also enjoys fame from its banking days as the reported creator of the credit default swap, a smart financial trick whose abuses have contributed to the financial crisis.

Masters became CEO of Digital Asset with headquarters in New York in March 2015, several months after the launch of the company. During his tenure, the company established partnerships with banks around the world and worked on creating blockchain platforms for the Australia Stock Exchange and US-based clearing houses. In July, Digital Asset announced a partnership with Google to bring blockchain to the cloud.

It is not clear, however, how much traction these projects have achieved. While blockchain technology has attracted huge uproar and investment in recent years, it has faced increasing skepticism from some who question its usefulness.

A person familiar with the CEO's business trip said that Masters told employees that he is leaving to spend more time with his family, and that he will remain as a counselor and advisor.

"Digital Asset has evolved from an ambitious idea to a truly global software engineering company.We are fortunate to have a team of senior management team and board executives, including AG, who have & nbsp; experience necessary to bring the company to the next level, "said Masters in a statement.

"Having known and trusted AG's trust as a board member and board member, I am convinced that he brings what is needed to lead the company in its next phase," he said.

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