Aptos Labs CEO steps down, Avery Ching takes over as the new CEO – CoinJournal | CPT PPP Coverage

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• Mo Shaikh has stepped down as CEO of Aptos Labs.
• Avery Ching has taken over the role of CEO at the blockchain firm.
• Shaikh will remain with Aptos Labs as a strategic advisor, reflecting on the future of blockchain.

Mo Shaikh, co-founder and outgoing CEO of Aptos Labs, has announced his decision to step down, marking a new chapter for the blockchain company.

Shaikh, who has been deeply involved in the blockchain space since 2016, co-founded Aptos Labs three years ago with Avery Ching. Together, they aimed to create a scalable, resilient blockchain foundation to support fair and efficient products for the future.

Shaikh highlighted Aptos’ success as he stepped down

In a heartfelt post on X, Shaikh expressed his pride in what the company has achieved.

Aptos has grown to become one of the most robust ecosystems in the blockchain space, trusted by over a thousand builders and innovators around the globe. The platform, which leverages the Move programming language originally developed for Facebook’s Diem project, has successfully raised $400 million in venture capital funding from top-tier investors like BlackRock, Franklin Templeton, Mastercard, Google, and PayPal.

Shaikh acknowledged the contributions of early builders and partners who have helped shape the ecosystem, including Merkle Trade, Thala Labs, Kyd Labs, Econia, MyCo, and Aave, among others. He emphasized the importance of the collaboration between Web3 and Web2, which Aptos is at the forefront of driving.

Reflecting on his departure, Shaikh noted his true passion for building companies from the ground up and the pride he feels in Aptos Labs’ world-class team. While stepping back from the daily operations, he will remain a strategic advisor to the company and continue to support its mission as Aptos’ most established layer-1 blockchain.

Over the coming months, Shaikh plans to take time to reflect on the future of blockchain technology and explore ways to evolve financial systems to maintain Aptos’ leading role in the space.

Avery Ching will take over as Aptos CEO

As Aptos enters its next phase of growth, Ching will take over as the CEO, a decision Shaikh says he is confident will drive the company towards even greater success.

In his own post, Ching expressed excitement and determination to lead Aptos Labs into its next phase of growth. “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,” Ching wrote.

The start of Ching’s leadership marks a new era for Aptos, as the company aims to continue driving innovation and scaling possibilities across the ecosystem.

Notably, Shaikh’s departure and Ching’s appointment come at a pivotal time for Aptos, as it remains at the cutting edge of blockchain technology, poised to shape the future of decentralized finance.