Polygon changes CEO in tense regulatory climate

The General Counsel of Polygon Labs, Marc Boironwill take over reindeer from project while the SEC recently qualified MATIC from securities. Ryan Wyatt will leave his duties at the end of the month.

The publisher of the popular layer2 announced on Friday a reshuffle in its direction. The current president of Polygon, Ryan Wyattis stepping down to make way for Marc Boiron, formerly General Counsel of the blockchain company, as CEO.

It’s bittersweet to share that I’m leaving Polygon Labs at the end of the month! Marc Boiron will manage in close collaboration with Sandeep Nailwal”, tweeted Wyatt, noting that he would continue to advise the project and invest in this fledgling industry.

The change within the Polygon Labs comes about a month after the U.S. regulator SEC qualified the token layer2 native, MATIC, securities in complaints against crypto exchanges Binance and Coinbase.

Marc Boironwho held the position of OCOL at Polygon Labs since the summer of 2022, was delighted with his promotion.

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

It’s a privilege to serve the community and the company as the Polygon 2.0 era begins! Thank you to the founders for their trust,” he proclaimed.

Before joining Polygon, Boiron worked for the crypto exchange dYdX and as a blockchain expert for several major law firms in the United States.

“His appointment testifies to our commitment to nurturing and developing the Polygon global community of developers, builders and users,” Polygon Labs said in a statement.

Earlier this year, layer2 cut its workforce by 20%.

Polygon Labs recently unveiled version 2.0, the Ethereum scalability solution will adopt a new architecturetokenomics and governance.

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