Aptos Labs CEO Mo Shaikh Quits; Avery Ching to Take His Place
12/20/2024 04:49The Aptos co-founder is sticking around as a strategic adviser, though.
The Aptos co-founder is sticking around as a strategic adviser, though.
Dec 19, 2024, 9:30 p.m. UTC
Mo Shaikh, co-founder of Aptos Labs, announced that he's stepping down as CEO of the company.
Aptos is a layer-1 blockchain that claims to offer enhanced scalability, security and transaction speeds. The platform leverages a unique blockchain programming language called Move, which was originally created for Facebook’s shuttered "Diem" project.
In a lengthy post on X, Shaikh, who co-founded Aptos with Avery Ching three years ago, expressed pride in the progress made by the company, which included raising a mammoth $400 million in venture capital funding and building "one of the most robust ecosystems, trusted by over a thousand builders and innovators around the globe."
— Mo Shaikh 🌐 aptOS (@moshaikhs) December 19, 2024For as long as I can remember, I’ve been passionate about building systems that empower people—fairer, more open systems. Since 2016, I have been deeply involved in the blockchain world, both exploring and contributing to its transformative social and economic potential.
Three…
Ching, Shaikh said, will assume the role of CEO and lead the company into its next phase of growth.
In his X post, Shaikh acknowledged the work of Aptos' partners and investors, including firms like BlackRock, Google, Mastercard and PayPal.
"None of this would have been possible without the unwavering support of our incredible investors. I want to extend my deepest gratitude to Dragonfly, Blocktower, Haun Ventures, Hashed, IRONGREY, a16z, Apollo, Coinbase, Parafi, Scribble, PayPal, Franklin Templeton, and the amazing angels who believed in our vision," he wrote.
Shaikh said he will remain with the company as a strategic adviser and plans to take time to reflect on the future of blockchain and financial systems. "I will always remain a champion of Aptos and its mission," he wrote, adding that he will "look forward to continuing to help Aptos maintain its role as the world's leading blockchain."
Sam Kessler
Sam is CoinDesk's deputy managing editor for tech and protocols. His reporting is focused on decentralized technology, infrastructure and governance. Sam holds a computer science degree from Harvard University, where he led the Harvard Political Review. He has a background in the technology industry and owns some ETH and BTC. Sam was part of the team that won a 2023 Gerald Loeb Award for CoinDesk's coverage of Sam Bankman-Fried and the FTX collapse.