Aptos Labs CEO Mo Shaikh announced his resignation and retirement as an advisor, and CTO Avery Ching will take over.

Aptos CEO Mo Shaikh announced his resignation, and co-founder Avery Ching will take over. Shaikh will continue to support Aptos in the role of strategic advisor. (Background: Attention! AptosMainnet was down for over 7 hours, and the exchange warned not to deposit/withdraw $APT) (Background: Aptos partnered with Microsoft to 'develop AI robots' and explore CBDC, asset tokenization..APT surged by 18%) Aptos, a rapidly growing public chain in the Move ecosystem, saw widespread community following as co-founder and CEO Mo Shaikh suddenly announced his resignation, causing a stir. The CEO of Aptos will be succeeded by co-founder Avery Ching. In his statement, Shaikh reviewed his journey in the blockchain, dedicating himself to building a fairer and more open system since 2016. Three years ago, he and co-founder Avery Ching established Aptos Labs with the goal of creating a resilient and scalable infrastructure to create fair and efficient products in the future. Shaikh expressed pride in Aptos' current achievements, as the ecosystem has become a platform trusted by developers and innovators worldwide, and has grown more robust after market cycles. He stated: I believe Aptos Labs has a world-class team and will continue to realize its vision, with Avery Ching taking over as CEO to drive the company into the next growth phase. Mo Shaikh will continue to serve as a strategic advisor to Aptos. Shaikh extended special thanks to early partners such as Merkle Trade, Thala Labs, Kyd Labs, Econia, and Aave, as well as supporters like BlackRock, Franklin Templeton, Mastercard, Google, and Microsoft. He pointed out: Aptos is at the forefront of integrating Web2 and Web3, driving innovation and expanding possibilities. In addition, Shaikh expressed gratitude to investors who support Aptos, including institutions such as Dragonfly, Blocktower, Haun Ventures, and a16z, and mentioned that Aptos was able to raise $400 million, laying a solid foundation for its ecological development. Despite stepping down as CEO, Shaikh stated that he will always be an advocate for Aptos and its mission: I will continue to support the development of Aptos in the role of strategic advisor, and emphasize that I will continue to drive Aptos to become a global leader in blockchain. In the coming months, Shaikh plans to spend time considering the evolution of the financial system and exploring how Aptos can maintain a leading position in the Layer 1 blockchain field. Shaikh emphasized that he will continue to support Aptos and the broader Web3 community as always, looking forward to future developments. APT fell by 9.1% According to CoinGecko data, the price of APT fell by 9.1% in the past 24 hours, with a current price of $10.89. In the context of today's general market price drops, this fall is not particularly pronounced, indicating limited impact from Shaikh's resignation. Related Reports Aptos ecosystem interpretation: Will 'game infrastructure' become a new driving force for rise? Technology | Analysis of the PRC node vulnerability that Aptos, Sui, StarCoin.. have all experienced How has on-chain Decentralized Finance developed since the launch of the Aptos Mainnet? The CEO of Aptos Labs, Mo Shaikh, announced his resignation and retreat to advisor, with CTO Avery Ching taking over the baton. This article was originally published on BlockTempo, the most influential blockchain news media in Dynamic Zone.