Kraken CEO Dave Ripley: talent to make things right

Career before Kraken

Before stepping into leadership at one of the world’s longest-running crypto exchanges, Dave Ripley of Kraken built his career around operations, systems thinking, and scaling technology-driven organizations.

While the details of his early life aren’t publicized, he’s usually associated with the San Francisco Bay Area and Chicago. He holds an MBA from the Kellogg School of Management at Northwestern and a B.S. in Electrical Engineering from the University of Illinois.

His career before crypto focused on spending more than a decade in product development and consultancy advising Fortune 500 executives on strategic priorities in multiple industries. Despite a successful consulting career, his interest in technology – and later crypto – gradually took precedence.

“In 2013, I was at BCG consulting group, I was looking for new opportunities in the tech industry […] An individual introduced me to the Bitcoin whitepaper […] I spent months learning about Bitcoin from every angle […] I learned about the economic angle, the technology angle given that I was an engineer, society and government […] I found a company because there were no companies at the time to work for,” he explained his decision in one of the interviews.

It is in Chicago, Illinois that Ripley co-founded Glidera, an award-winning non-custodial wallet and funding service provider, and served as the CEO of the company.

Joining Kraken

Ripley joined Kraken in 2018, taking on the role of Chief Operating Officer (COO) at a time when the company was expanding rapidly but also facing increasing regulatory and operational complexity. His appointment marked a shift toward strengthening internal systems and professionalizing operations.

In his early years at Kraken, Ripley focused on strengthening internal governance, scaling infrastructure, and improving customer experience. His work helped prepare the exchange for a rapidly evolving regulatory environment and growing global user base.

Over time, Ripley became one of the central figures guiding Kraken’s strategy. His operational focus complemented the company’s engineering-driven culture, helping align product development with long-term sustainability rather than short-term growth.

In particular, Kraken CEO Dave Ripley oversaw the exchange’s growth from 50 to over 3,000 workers, while the company completed over 16 acquisitions and secured a broad set of global regulatory licenses and partnerships.

Combined, these accomplishments helped him move up the career ladder, arguing that crypto’s long-term future depends on self-custody and clear regulatory standards.

Stepping into the CEO role

In 2023, David Ripley was appointed co-CEO of Kraken alongside Arjun Sethi, replacing Jesse Powell in the role. Though Powell was the exchange’s co-founder, he eventually grew tired of day-to-day operational responsibilities, saying that working at the exchange was “draining” and “less fun” as the company has grown.

Despite his stepping down, Ripley noted at the time of the transition his “vision, along with the rest of the leadership team, is in lockstep with Jesse’s – to accelerate the adoption of cryptocurrency.”

Almost immediately after taking over Ripley was hit with challenging questions among which was the question of how his centralized exchange could be trusted after the implosion of rival exchange FTX headed by the notorious Sam Bankman-Fried.

He did not spare the man, saying: “We have information to know that fraud was committed there” while adding that “it’s going to take time for regulatory bodies and government to come into the fold.”

David Ripley of Kraken is also a big fan of a clear regulatory framework that the Trump administration is promoting while noting that traditional financial institutions are getting into crypto and Kraken is helping them in this endeavor.

Strategic focus at Kraken

Under Ripley’s leadership, Kraken has focused on reinforcing its core infrastructure while expanding thoughtfully into new areas. He has repeatedly pointed to a future for crypto shaped by institutional adoption, regulation, and self-custody.

One of the clearest examples of this approach came with Kraken’s expansion into global payments thanks to the launch of its peer-to-peer payments app Krak. 
Commenting on the move, crypto commentator Marc Baumann praised Ripley, saying:

This isn’t a crypto wallet. It’s a full-stack payment product. I remember meeting David Ripley in Kraken’s San Francisco office back in 2019. At the time, Kraken was just a crypto exchange. Today, they’re coming for the entire money movement stack. And they’re moving fast.

Ripley has also overseen Kraken’s move into traditional finance, including commission-free trading for U.S. stocks and ETFs and he consistently argued that clearer regulatory rules would encourage traditional financial institutions to engage with crypto.

It is also evident in his recent tweet where he congratulated Michael Selig on the confirmation to CFTC chair: “Looking forward to positive things ahead for the US financial system.”

While Kraken is clearly growing under his stewardship with its reputation for uncompromised security, transparent compliance, and user-centric innovation, David Ripley’s net worth remains undisclosed.

Vision for Kraken’s future

Looking ahead, David Ripley envisions Kraken as a foundational player in a more integrated global financial system.

He has repeatedly emphasized the importance of building trust through transparency, reliability, and thoughtful expansion. In his view, crypto’s long-term success depends on its ability to coexist with existing financial systems rather than disrupt them recklessly.

And it appears that this vision is viable given the amount of funds attracted by Kraken recently, with Ripley saying:

We’re excited to announce we have raised $800 million across two tranches to accelerate our strategy of bringing traditional financial products on-chain. The primary tranche was led by institutional investors including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management and Tribe Capital, along with a significant commitment from Kraken Co-CEO Arjun Sethi’s family office.

As the crypto industry continues to evolve, David Ripley’s leadership represents a steady, disciplined leadership style – one that contrasts sharply with the headline-driven volatility that has defined much of the crypto industry.