Mr.Arshman

09/01 11:07

Loopring CEO resigns after 3 years, LRC surges 9%

Loopring CEO resigns after 3 years, LRC surges 9%

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Loopring CEO Steve Guo announces his resignation via Medium, stating he is leaving the project to spend more time with his family. How has the community reacted?

Summary

Loopring CEO Steve Guo leaves the project at the end of August 2025 to spend more time with his family.

Some traders speculated on Guo’s existence when they were disappointed by the sunset of its smart wallet feature.

After Guo left the project, the price of LRC surged by 9.1% before gradually dipping.

In a recent Medium blogpost titled “Time to Say Goodbye,” Loopring’s (LRC) Steve Guo announced that he is stepping down from CEO as of August 2025. He cited his need to spend more time with his family as the reason behind the abrupt departure.

“It’s never easy to say goodbye, especially to a project I’ve poured so much heart and energy into, but the time has come to move forward,” said Guo.

Loopring is known in the crypto community as an open-source Layer 2 protocol that supports decentralized exchanges and payment systems on the Ethereum (ETH) network. The project became the first to deploy zk Rollup technology to scale ETH.

Read more: Loopring to cease wallet operations on June 30

In his letter to the community, he addresses the highs and lows that the project has experienced while he was at the helm. He claimed that the project was able to build a DeFi-powered ecosystem on top of the existing foundation, with the addition of native features like dual investment, block trade, and portal.

On the other hand, one of the project’s major investments ended up becoming a double-edged sword when it announced that it would be ceasing operations for its Smart Wallet segment. Back in late June this year, the protocol shut down support for its wallet interface, prompting lots of ire from the community.

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