President will step down and chief legal officer will become CEO

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Ryan Wyatt might be stepping down as president of Polygon Labs and shifting into an advisory function after greater than a yr on the agency.

In a July 7 announcement, Wyatt said he deliberate to go away Polygon on the finish of July however can be staying within the crypto house by persevering with to advise the agency. Polygon chief authorized officer Marc Boiron — additionally the previous chief authorized officer of dYdX — might be stepping up as the corporate’s new CEO.

Rebecca Rettig, Polygon’s chief coverage officer, will take over because the agency’s chief authorized officer upon Boiron’s departure. Caroline Pham of the US Commodity Futures Buying and selling Fee (CFTC) not too long ago appointed Rettig to serve on the CFTC’s World Markets Advisory Committee’s Subcommittee on  World Market Construction, Technical Points, and Digital Asset Markets.

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The change in management comes as Polygon has been making ready a set of upgrades geared toward establishing the “Worth Layer” of the web — a transfer branded as “Polygon 2.0.” The platform mentioned it can transfer ahead on plans to determine “decentralized governance” by July 17.

In March, the platform turned the second-largest blockchain gaming community within the variety of distinctive lively wallets, overtaking Hive. On the time of publication, the value of Polygon (MATIC) was roughly $0.67, having fallen by 1% within the final 24 hours.

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