Cryptocurrency staking platform Everstake has named David Kinitsky as its new chief executive officer, a significant move announced on Wednesday. Kinitsky replaces Sergii Vasylchuk, the company’s founder who established Everstake in 2018. Vasylchuk will now shift into the role of president. This leadership transition is a strategic step for Everstake as it aims to accelerate its growth into institutional markets and expand its global reach.

Key Points:

• David Kinitsky previously served as the founding general manager of Grayscale Investments and has held high-profile roles at Fidelity Investments, Circle, and Kraken.
• Under Kinitsky’s direction, Everstake plans to further develop its core staking business and expand into new opportunities in infrastructure and financial products.

Kinitsky emphasized the importance of staking, noting, “As staking becomes central to institutional crypto strategies and emerges as a viable asset class, we are elevating Everstake’s operations to address institutional demands and explore additional opportunities.”

Everstake has actively engaged over 735,000 users in staking, amassing $6.5 billion in delegated assets. This growth underscores the company’s pivotal role in the blockchain network ecosystem, enhancing its service offerings to support a multitude of blockchain networks.