Loopring Names CTO Steve Guo as CEO, Replacing Founder Wang

Loopring, an Ethereum-based project that helps developers build decentralized exchanges (DEX), named Chief Technology Officer Steve Guo as its CEO, replacing founder Daniel Wang.

• Wang will continue to work as an adviser and will spend time developing the project’s layer 2 strategy, the firm said in a blog post Thursday.
• Guo previously worked at Intel as a software engineer and a tech lead. He was admitted to the University of Science and Technology of China when he was 15 years old and graduated with a Ph.D. in computer science in 2005.
• “This year, we will focus on our new NFT [non-fungible token] support, improving documentation, polishing wallet and DEX user experience, and enhancing service availability. I believe the best of Loopring is yet to be seen,” said Guo.
• The loopring token (LRC) has lost about 60% of its value in the past month and was recently trading near $0.80, CoinDesk data shows. It touched a record high of $3.86 on Nov. 10, 2021.

Read more: Loopring Price Up 7-Fold This Month on GameStop Speculation, Metaverse Bets