LedgerX Names Former Chief Tech Officer as New CEO

LedgerX declared Friday co-founder and former main technology officer Zach Dexter was named the new chief executive of this bitcoin derivatives company.

The company suspended CEO Paul Chou and COO/CRO Juthica Chou last month, without excuse. The two have been co-founders of the company. Depository Trust and Clearing Corporation vice chairman Larry Thompson was named interim CEO and lead manager of Ledger Holdings.

In a statement,” Thompson stated, “since my involvement with the company began, we have kept in close contact with all of the company’s stakeholders including employees, investors and regulators and have kept the CFTC fully apprised of the company’s actions including the recent financing.”

His statements might seem to struggle with a letter delivered into LedgerX’s board along with the CFTC Office of those Inspector General with a member of its board of supervisors. In the correspondence, Nicholas Owen Gunden wrote that as an investor, he had obtained restricted communications in the company, also was worried about its own operations.

LedgerX also announced that it closed a “significant” financing around “led by the company’s largest investors including Digital Finance Group.” The amount raised wasn’t divulged, but the capital will be utilized to deliver on more senior executives, the release stated.

Dexter was part of this LedgerX group for its first five and a half years of their company’s operations, making May 2019 to combine Mirror, a tech fitness startup. )

Thompson and Dexter didn’t immediately respond to a request for comment.

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