Crypto’s $2 Trillion Wipeout Cuts a Path Through the C-Suite (1)

The convulsions that set the cryptocurrency market tumbling earlier this year and delivered shock waves through the industry have subsided. Now comes the shakeup in the C-suite.

More than two dozen high-ranking executives — from Alex Mashinsky, the charismatic and controversial co-founder of now-bankrupt crypto lender Celsius Network to Brett Harrison of digital-asset exchange FTX US and Jesse Powell, the outspoken head of FTX’s rival Kraken — have vacated their posts in the past two months alone.

While an assortment of idiosyncratic reasons has been given for the exodus, it’s clear the turbulence that shook the market starting in the spring has taken a toll. It would be ...