Avery Ching To Become New Aptos Labs CEO As Mo Shaikh Steps Down
Aptos Labs Co-Founder Mo Shaikh will officially be stepping down as CEO. Despite his departure, Shaikh will remain with the company in a strategic advisory capacity to the board. Going forward, Aptos CTO Avery Ching will take over as CEO, tasked with leading the company into its next phase of growth.
Moving On
Mo stated that he plans to take some much-needed time to reflect on where the world is headed and to think deeply about the ways financial systems can evolve to continue to push Aptos as the most established Layer-1 blockchain in the space.
Shaikh expressed his long-standing passion for building systems that empower people, which means more equitable and open systems. He also emphasized his passion for creating innovative projects like Aptos.
Partnerships Are Key
As a Layer-1 blockchain, Aptos utilizes a unique programming language called Move, which was initially developed for Facebook and their Diem project. In June, Shaikh joined the Commodity Futures Trading Commission (CFTC), where he will assist in shaping regulatory guidelines for cryptocurrencies.
The Aptos blockchain has recently been performing strongly, with several new partnerships. Last month, the company teamed up with Circle and Stripe to enable seamless transfers across eight blockchains, enhancing DeFi interoperability. Aptos also expanded its advisory board, adding former Grayscale Investments CEO Michael Sonnenshein and OpenAI Chief Product Officer Kevin Weil.
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