Jakob Palmstierna gave up the chief executive job at GSR on June 26, 2024, after two and a half years in the role. GSR said so in a press release on June 261. He moved into a new role as president. Xin Song and Rich Rosenblum stepped in as co-CEOs effective July 1, 20242.
Three leadership moves at GSR on the record since 2024
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 |
|---|---|
| June 26, 2024 | Song became Co-CEO. Xin Song was named Co-Chief Executive Officer of GSR |
| June 26, 2024 | Palmstierna left as CEO. Jakob Palmstierna left as Chief Executive Officer of GSR |
| Oct. 23, 2024 | Rosenblum left as Co-CEO. Rich Rosenblum left as Co-Chief Executive Officer of GSR |
20 CEO exits on the record in 2024
CEO exits CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2024: 20
- 2019, 2020, 2021, 2022, 2023, 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 |
What Palmstierna gets credit for
GSR's own account of the handoff praised the tenure it was ending. The firm said Palmstierna had "successfully navigated GSR through the tumultuous 2022-23 bear market." He expanded its client base and, GSR said, kept the firm profitable despite market headwinds1. GSR credited him with preserving its reputation and its lead in the industry across those two years.
Why does a handoff statement praise a predecessor's record instead of a successor's promise? Palmstierna's own statement named the two people replacing him. That statement explained the timing of the move, rather than his own exit. “Their deep understanding of the digital asset space and complementary strengths uniquely position them to lead our efforts as the industry evolves and matures,” Palmstierna said. “With the US market opening up and the competitive landscape intensifying, their balanced leadership will be crucial in accelerating our ability to ideate new business ideas and execute them effectively.”1
The job Palmstierna moved into
GSR framed the new president role as a promotion into client work rather than a step back. The firm said Palmstierna would lead its client franchise. That franchise had recently grown with a dedicated Partnerships and Client Services team1. He described the change to The Block as confidence in the pair replacing him. "I look forward to working alongside Rich and Xin," Palmstierna told The Block, repeating his view that their combined backgrounds “uniquely position them to lead our efforts as the industry evolves and matures.”2
Cristian Gil, GSR's chairman, pointed to the market rather than to Palmstierna's own performance. “The industry is at an inflection point and we must remain agile and innovative in how we serve our clients today while also proactively positioning ourselves for the future,” Gil said1.
What came next
CoinDesk's May 5, 2026, report on Standard Chartered's investment in GSR named Xin Song as "CEO at GSR." The article left Palmstierna and the president's title out of its account entirely3. CoinDesk quoted only Song and Standard Chartered's venture chief, Alex Manson, on GSR's next phase of growth. GSR had acquired Autonomous and Architech for $57 million in March 2026 to expand its tokenization business. CoinDesk tied that deal to Song's leadership, separate from the client-franchise role Palmstierna took on in 2024.
Sources
- GSR, "GSR Intensifies Client Focus with New Co-CEO Structure Amid Changing Landscape," Business Wire, June 26, 2024, https://web.archive.org/web/20250522074716/https://www.businesswire.com/news/home/20240626718805/en/GSR-Intensifies-Client-Focus-with-New-Co-CEO-Structure-Amid-Changing-Landscape
- Brian McGleenon, "GSR names co-CEOs as Jakob Palmstierna becomes company president," The Block, June 26, 2024, https://www.theblock.co/news/business/2024-06-26-gsr-names-co-ceos-as-jakob-palmstierna-becomes-company-president-301966
- Olivier Acuna, "Standard Chartered expands further into crypto with stake in GSR at $1 billion valuation," CoinDesk, May 5, 2026, https://www.coindesk.com/business/2026/05/05/standard-chartered-expands-further-into-crypto-with-stake-in-gsr-at-usd1-billion-valuation