Try Quests to earn cryptoAlgorand Foundation New CEO Staci Warden
The Algorand Foundation February 10th, 2022 announced the appointment of Staci Warden as our Chief Executive Officer. Warden, who has served on the Algorand Foundation’s Board since September 2021, steps into the additional role of CEO effective today.
In this analysis, we want to examine whether this news was a strong fundamental news for Algo blockchain in the eyes of Algo users or not.
Prior to joining the Board of the Algorand Foundation, Staci ran the Global Market Development practice at the Milken Institute, where she led its work on capital market development, crypto/blockchain solutions, and innovative finance to promote the sustainable development goals. Prior to Milken, Staci ran JPMorgan’s EMEA public sector practice out of London. Before JPMorgan, she led the Nasdaq’s two markets for microcap companies, and in the public and non-profit sectors had senior roles at the U.S. Treasury Department, the Center for Global Development, and the Harvard Institute for International Development.
Staci has done business in more than 50 countries and has advised and spoken widely on the potential for cryptocurrencies and blockchain to solve real-world problems, and for financial innovation to improve inclusion and reduce global poverty. In addition to the Algorand Foundation, she sits on the Boards of the Global Blockchain Business Council, the Rwandan Capital Market Authority, and the Energy for Growth Hub. She also serves on the advisory committees of the United Nations Capital Development Fund (UNCDF), the European Parliament’s Science and Technology Committee (STOA), the U.S. Financial Technology Association, and Evolution Environmental Asset Management.
The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.
the following chart shows the amount of ALGO trasferred from/to CEXs One week after the news of Warden joins:
As we can see, from February 10 to the end of February 11, the amount of Algo transferred to the CEXs increased and from February 11 to February 12, it decreased with a steep slope. Of course, during the same period, the transfer of Algo from CEXs to wallets has also been accompanied by a decrease. From February 12 to February 16, the amount of algae transferred to CEXs increased with a gentler slope, and from February 16 to 17, it decreased again.
Concolusion:
As we know, transferring assets from wallets to CEXs means that users seek to cash in on their assets and see their interest in selling their assets instead of holding them. Also, transferring coins from CEXs to wallets means that users believe that it is better to hold their assets, and this is more profitable for them.
According to the behavior of users, a week after the news of Warden joining was published, this news did not have a significant effect on users to hold ALGOs! If this news was a strong fundamental news from the point of view of Algo community, the rate of transfer of Algo from CEXs to wallets should have increased and the rate of transfer of ALGOs from wallets to CEXs should have decreased. But we did not see such a pattern in the chart!