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Ryan Wyatt will step down as president of Polygon Labs and move to a consultant position after more than a year with the firm.
In a July 7 announcement, Wyatt said he planned to leave Polygon at the end of July but would remain in the cryptocurrency space while continuing to advise the firm. Polygon General Counsel Marc Boiron – also a former dYdX General Counsel – will become the company’s new CEO.
Proud to start as CEO role at @0xPolygonLabsreporting to the founders & leaning into our stellar eng roots.
It’s a privilege to serve the community & company as the Polygon 2.0 era begins!
Thx to the founders for their trust. Excited to work w @Fwiz in his advisory role. pic.twitter.com/ArZrtKZPQT
— Marc Boiron (@0xMarcB) July 7, 2023
Rebecca Rettig, Polygon’s chief political officer, will take over as the firm’s chief legal officer following Boiron’s departure. Caroline Pham of the U.S. Commodity Futures Trading Commission (CFTC) recently named Rettig a member of the CFTC’s Global Markets Advisory Committee Subcommittee on Global Market Structure, Technical Issues, and Digital Asset Markets.
Related: Polygon Labs President Testifies Democratization of the Internet with Web3 and Blockchain
The change in leadership comes as Polygon is preparing a series of updates aimed at creating a “level of value” on the web – a step under the brand name “Polygon 2.0”. The platform said it will push ahead with plans to create “decentralized governance” by July 17th.
In March, the platform became the second largest blockchain gaming network in terms of the number of unique active wallets, surpassing Hive. At press time, Polygon (MATIC) was trading at roughly $0.67, down 1% in the last 24 hours.