Digital Asset picks new CEO after Blythe Masters' exit

Layer 1s • March 19, 2019, 9:00AM EDT

Quick Take

Digital Asset has picked a new CEO after the exit of Blythe Masters
Yuval Rooz, the firm’s COO and cofounder, starts as CEO effective immediately, the firm said Tuesday

Digital Asset, the New York-based blockchain company, has found a new chief executive officer to replace Wall Street veteran Blythe Masters, who stepped down from the position at the end of 2018, the company announced Tuesday.

Yuval Rooz, the firm's former chief operating officer, was appointed CEO, according to a press release. Rooz, a former high-frequency trading executive, takes the firm's reins after a number of key personnel exits, including the head of its European business, Gavin Wells, who left in March. In February, James Powell, its former CIO and CTO, left in February, as reported by CoinDesk.

AG Gangadhar served as temporary CEO during the firm's executive search. "Along with the rest of the Board, I feel very strongly that Yuval's strategic agility, business acumen, mission-driven orientation and deep belief in our people and products make him uniquely qualified to lead Digital Asset successfully into the future,” the former Uber executive said of Rooz's appointment.

Rooz will have to fill the shoes of Masters, a juggernaut in the blockchain market who led the firm through its expansion globally. The former JPMorgan banker retains her seat on the firm's board.

Digital Asset, which was founded in 2014, has raised millions on the promise that banks like JPMorgan would need to implement blockchain technology to improve different functions such as trade processing.

As for Rooz, he joined Digital Asset from Chicago-based HFT DRW Trading. There, he launched its venture unit DRW Ventures, which is known to invest in the blockchain market.

About Author

Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected].