According to The Block: Cecilia Hsueh, CEO of the Ethereum Layer 2 project Morph supported by Dragonfly, announced her resignation, with current Growth Director and former Binance executive Colin Goltra taking over.
Cecilia Hsueh, co-founder of Morph and CEO of the Ethereum Layer 2 project incubated by Bitget, announced on X (formerly Twitter) on Monday that she will resign as CEO.
"This news may be somewhat heavy, but I think it is time to formally share this decision with everyone. After careful consideration, I have decided to officially resign from the CEO position," Hsueh wrote.
This personnel change follows the announcement of the departure of Morph's other co-founder and Chief Operating Officer (COO) Azeem Khan from the project.
Founded in 2023 and headquartered in Singapore, Morph is developing an Ethereum Layer 2 network that combines optimistic and zero-knowledge rollup technologies. The project completed a $20 million seed and angel round financing last year, with $19 million of the seed round led by Dragonfly.
"We started the leadership transition three months ago, and now this process has been officially completed," Hsueh stated in the announcement. She noted that the new CEO is current Growth Director Colin Goltra, "who is someone I trust very much, with over 10 years of Web3 experience, having served as COO of YGG (Yield Guild Games) and held important positions at Binance."
According to LinkedIn profiles, Goltra joined Morph in January this year. He worked at Binance for a year and a half, most recently as the head of expansion for the Asia-Pacific region. Hsueh previously served as the Chief Marketing Officer of the crypto exchange Phemex before being promoted to CEO.
Morph stated that it is building the first Ethereum Layer 2 network with a decentralized sequencer. The sequencer is a key component of Layer 2 systems, responsible for organizing and batching off-chain transactions to the Ethereum main chain. This technology aims to provide 'endless possibilities' for decentralized applications (dApps) in finance, gaming, social media, and entertainment.
Morph's mainnet officially launched in October 2024, and Bitget Wallet subsequently announced the completion of integration.
Hsueh stated that she will continue to serve as an advisor to the project.
In addition to Dragonfly, Morph's investors also include Pantera Capital, Foresight Ventures, Spartan Group, and Symbolic Capital. Polygon co-founder Sandeep Nailwal and Nansen CEO Alex Svanevik also participated in the investment.
