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crypto.news 2024-12-30 18:07:34

Ethena head of growth Seraphim Czecker steps down

Seraphim Czecker, the head of growth at Ethena, has announced he is stepping down. Czecker shared the “big personal news” in a post on X , revealing that his exit as head of growth at the synthetic dollar protocol comes after an incredible journey that has seen the project grow into one of decentralized finance ecosystem’s top platforms. “It has been a truly incredible and rewarding journey,” he wrote. “I joined the protocol around the seed round, drove $1B+ in DeFi partnerships while making sure Ethena is on your mind 24/7 and had incredible fun while doing it.” The outgoing Ethena ( ENA ) team member notes he’s been “actively involved” with the project from zero to a multi-billion dollar success story. The USDe ( USDe ) stablecoin issuer’s total value locked, according to DeFiLlama, currently stands at nearly $6 billion. Much of the rollercoaster growth has come amid huge demand from yield-hungry investors. Read more: Ethena officially launches USDtb, stablecoin backed by BlackRock While he is stepping down from his role at the crypto project, Czecker says his decision is also down to him being “tired.” “The firm is entering a different phase in its growth [but] truth be told, I am also tired of DeFi. I’ve been doing this for years without any real holidays, worked with every major liquidity provider, protocol, KOL in the space and deserve some rest. I’ve done literally everything you could do in DeFi,” he noted. Czecker plans to continue supporting Ethena from outside, and will take a one to two months of deserved break and rest. When he returns to actively participating in the industry, his plan is to avoid “pure DeFi.” Rather, he will look to explore other sectors, including artificial intelligence, memes, SocialFi, entertainment and fashion. You might also like: Ethena price reverses as whales dump, exchange balances rise