The Singapore-based Algorand Foundation behind the Algorand protocol has appointed Staci Warden as CEO.
Warden has been on the foundation’s board of directors since September 2021, the foundation announced today.
According to his LinkedIn profile, Warden was an executive at JPMorgan before working for Algorand. Warden’s duties included managing multi-company relationships in Europe, Africa, Russia and Central Asia. Warden, who previously worked at Nasdaq, oversaw the development of small-scale companies in the stock market in this institution.
“I Will Add Great Value to the Algorand System”
Warden said in his statement:
“By accelerating our global ambitions and reaffirming our commitment to the DeFi ecosystem, I think we will add tremendous value to the Algorand ecosystem as a whole and the end-user experience.”
Warden also spoke highly of ALGO: “Thanks to ALGO, we are able to process 1,000 transactions per second with very low transaction fees.”
Former CEO of the foundation, Sean Lee, announced that he will be leaving his role at the foundation to seek other career opportunities.
Promising to facilitate remittance transactions and payments thanks to its blockchain, ALGO attracts high interest from institutional investors. In June, Arrington Capital, led by TechCrunch founder Michael Arrington, launched a $100 million fund to develop on the ALGO Blockchain.
In addition, the Algorand Foundation announced in September that it had launched a $300 million development fund.
According to Coinecko data, the ALGO altcoin has been trading at $1.04 throughout the week. Cryptocurrency In mid-September, it had seen its peak of $2.30.