Julia Smith

Last updated:

June 28, 2024, 10:19 EDT | 1 min read

David Garai, founder and CEO of Nostra, has stepped down from his leadership role at the company only 11 days after it unveiled its NSTR token airdrop, according to a Friday morning X post.

Nostra CEO David Garai Steps Down, Announces Replacement

“I have resigned as CEO of Nostra,” Garai posted, adding that the company’s Head of Product, Richard Thomas-Pryce, would be taking over his position.

“I’m honored to step in and lead @Nostrafinance,” Thomas Price said in a statement. “Our incredible team will continue driving innovation and building on our success. With many exciting features on the roadmap, like Nostra Earn, Nostra Bridge, and STRK Liquid Staking on the horizon (to mention a few), we’re fully committed to reaching new heights.”

According to blockchain aggregator DeFi Llama, the company’s TVL currently stands at $153 million – a dramatic decrease from its estimated $221 million shortly before the NSTR token’s airdrop.

Editorial note: This story is currently being added to. For the full story, check back soon as we add more information and/or perspectives from those involved.

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