Bittrex Global's boards of directors announced on June 27, 2022, that Stephen Stonberg had stepped down as chief executive1. The boards named Oliver Linch, then the company's general counsel, as his successor on June 27, 2022.
The second CEO exit at Bittrex Global on the record since 2021
Every move CryptoLately has verified there, by the day it became public
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Date | Event |
|---|---|
| Nov. 12, 2020 | Baron became Chief Compliance Officer. Jeff Baron was named Chief Compliance Officer of Bittrex Global |
| May 18, 2021 | Albright left as CEO. Tom Albright left as Chief Executive Officer of Bittrex Global |
| May 18, 2021 | Stonberg became Interim CEO. Stephen Stonberg was named Interim Chief Executive Officer of Bittrex Global |
| June 27, 2022 | Stonberg left as CEO. Stephen Stonberg left as Chief Executive Officer of Bittrex Global |
| June 27, 2022 | Linch became CEO. Oliver Linch was named Chief Executive Officer of Bittrex Global |
18 CEO exits on the record in 2022
CEO exits CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2022: 18
- 2019, 2020, 2021, 2023, 2024, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 7 |
| 2020 | 9 |
| 2021 | 5 |
| 2022 | 18 |
| 2023 | 11 |
| 2024 | 20 |
| 2025 | 20 |
| 2026 | 18 |
The move
Bittrex Global's own release framed the handoff as a transfer between insiders. “The Boards of Directors of Bittrex Global GmbH and Bittrex Global (Bermuda) Ltd. announce today that Stephen Stonberg has stepped down as CEO,” the release read. “The Boards have appointed the current General Counsel of Bittrex Global, Oliver Linch, as CEO to oversee the management of the companies”1. Bill Shihara, co-founder of Bittrex, credited Stonberg's tenure directly. “As an integral part of the Bittrex Global leadership for the past three years, Stephen has overseen the growth of the company and its personnel and the creation of a highly experienced leadership team,” Shihara said.
Stonberg described his own time in the role. “It has been a privilege and an incredible experience for me to have led this business over the past three years. I am so proud of what we have achieved in making Bittrex Global more customer-focussed and competitive and I am certain this will continue under Oliver's lead,” Stonberg said1. The Royal Gazette, reporting on July 6, carried the same quotations and identified Linch as "the current general counsel of Bittrex Global" before his promotion2.
Before and after at Bittrex Global
Stonberg's three years spanned a promotion in title twice over. He joined as chief financial officer and chief operating officer in February 2019, took the interim CEO title on May 18, 2021, and had the "interim" dropped by the time he exited on June 27, 2022. Linch arrived from a different seat than Stonberg had. Shihara described Linch's background as regulatory rather than financial. “Oliver has over a decade of experience in the financial services sector, having advised major investment banks, brokers, exchanges and other financial institutions on regulatory matters across different regions including the US, UK, Middle East, and the European Union,” Shihara said1.
What came next
Linch led Bittrex Global for roughly a year and a half before the company shut down entirely. The U.S. Securities and Exchange Commission sued Bittrex Global and its American affiliate in 2023, and Bittrex Global told customers on Nov. 20, 2023, that it would wind down operations, with trading set to stop on Dec. 4, 2023, CoinDesk reported3. CoinDesk's Sandali Handagama wrote that “Bittrex Global CEO Oliver Linch had told CoinDesk that it would fight the SEC charges 'vigorously'” before the shutdown. Stonberg's departure left the company to a general counsel who faced the SEC's suit until the exchange stopped trading on December 4, 2023.
Sources
- Bittrex Global, "Oliver Linch Appointed CEO of Bittrex Global as Stephen Stonberg Steps Down," PR Newswire, June 27, 2022, https://www.prnewswire.com/news-releases/oliver-linch-appointed-ceo-of-bittrex-global-as-stephen-stonberg-steps-down-301575813.html
- Business Staff, "Bittrex Global lawyer takes over as CEO," The Royal Gazette, July 6, 2022, https://www.royalgazette.com/international-business/business/article/20220706/bittrex-global-lawyer-takes-over-as-ceo/
- Sandali Handagama, "Crypto Exchange Bittrex Global to Shut Down," CoinDesk, November 21, 2023, https://news.google.com/rss/articles/CBMikgFBVV95cUxNUFdBWjRmalhvNUlob2NFbVVNZnZpQy1zZnJXb2pDYWxTOFlmTXFIR3hHQk52U3VEV2lPaU1pOXdOOVJwZUtPaUxoZDEyd1NCc242bmE2MkJCNllQVVFVMGZSWWU0Uy1sTWVydWFSZFFYU0pDMGNWMzd3ang1Z2FRcVp5b0R2ZW1taHhfdC1henZfZw?oc=5