Frax Finance founder Sam Kazemian posted on X on Aug. 28, 2025, that he was joining stablecoin network Stable's leadership team as chief technology officer while remaining Frax's chief executive1. PANews reported the move on Aug. 29, 2025, describing Stable as "an institutional-grade blockchain built for stablecoins"2.
59 executive hires on the record in 2025, the most of any year
Executive hires CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2025: 59
- 2019, 2020, 2021, 2022, 2023, 2024, 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 | 11 |
| 2020 | 12 |
| 2021 | 27 |
| 2022 | 37 |
| 2023 | 20 |
| 2024 | 39 |
| 2025 | 59 |
| 2026 | 45 |
Layer 1s & Infrastructure led executive hires in 2025, with 15
Executive hires CryptoLately has verified in 2025, by the sector of the company
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 |
|---|---|
| Layer 1s & Infrastructure | 15 |
| Trading Venues & Brokerage | 9 |
| Bitcoin & Mining | 8 |
| Capital Markets & Treasury | 4 |
| Institutional Custody & Asset Management | 3 |
| AI and Crypto | 2 |
| Wallets & Consumer Apps | 1 |
| Regulation & Enforcement | 1 |
The move
Kazemian's own words set the terms of the move. “I'm excited to announce that I'm joining Stable's leadership team while continuing to lead Frax as CEO!” Kazemian wrote on X1. He added that the arrangement “brings the Frax<>Stable<>Tether ecosystems closer together and combines our unique strengths into an unstoppable force for stablecoin adoption in the worldwide market”. PANews credited Kazemian as Frax Finance's founder in its report, and confirmed he would keep the Frax CEO title alongside the new Stable post2.
Before and after at Stable
Stable is "a new layer 1 blockchain network designed for stablecoin-based payments," Blockworks reported on Sept. 22, 2025, in a story on a PayPal Ventures investment in the network3. The same report called Kazemian "Stable's recently appointed CTO" and quoted him on the partnership. “Our teams are aligned on the clear benefits that digital asset implementation can bring for consumers, making them a perfect fit to help us bring about the next true advancement in cross-border transactions,” Kazemian said. Stable had recently closed a $28 million seed round with participation from Bitfinex and Hack VC, Blockworks reported.
What came next
PayPal Ventures invested in Stable, and PayPal USD, the stablecoin known as PYUSD, became usable on Stable's network, Blockworks reported on Sept. 22, 2025, 25 days after Kazemian's CTO announcement3. Amman Bhasin, a partner at PayPal Ventures, tied the investment to real-world adoption in underserved regions, the outlet reported. The partnership put PYUSD on the network where Kazemian had become chief technology officer that August.
Sources
- Sam Kazemian, post announcing his move to Stable, X, Aug. 28, 2025, https://x.com/samkazemian/status/1961119429900878285
- PANews, "Frax founder to serve as CTO of blockchain project Stable," Aug. 29, 2025, https://www.panewslab.com/en/articles/21b8b93e-f439-41df-8294-c3628e6786d1
- Blockworks, "PayPal backs Stable to expand PYUSD," Blockworks, Sept. 22, 2025, https://news.google.com/rss/articles/CBMiakFVX3lxTFA2N19sRmVpRUlhdFI1eHN4ZFVHVVZZeTRrcWtoNXdfd0hhTHpMQ3llejZPaEFvT1ctbUtwc2lYdGtDMEpoUFhYRkJsd0dEWW0zZjNsa2pITXRHNjdaSVRXam5lekhiMmJjZUE?oc=5