Mo Shaikh, co-founder of Aptos Labs, has announced that he is stepping down as CEO of the company.
Aptos is a layer-1 blockchain that claims to offer improved scalability, security and transaction speed. The platform uses a unique blockchain programming language called Move, originally developed for Facebook’s shuttered “Diem” project.
In a long post on XShaikh, who co-founded Aptos with Avery Ching three years ago, expressed pride in the progress the company has made, which includes raising a whopping $400 million in venture capital funding and building “one of the strongest ecosystem, trusted by over a thousand developers and innovators around the world.”
For as long as I can remember, I’ve been passionate about building systems that empower people—fairer, more open systems. Since 2016, I have been deeply involved in the world of blockchain, both exploring and contributing to its transformative potential in society and the economy.
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— Mo Shaikh 🌐 aptOS (@moshaikhs) December 19, 2024
Ching, Shaikh said, will take on the role of CEO and lead the company through its next phase of growth.
In his X post, Shaikh acknowledged the work of Aptos’ partners and investors, including companies like BlackRock, Google, Mastercard and PayPal.
“None of this would be possible without the unwavering support of our incredible investors. I want to extend my deepest gratitude to Dragonfly, Blocktower, Haun Ventures, Hashed, IRONGREY, a16z, Apollo, Coinbase, Parafi, Scribble, PayPal, Franklin Templeton, and the amazing angels who believed in our vision,” he wrote.
Shaikh said he will remain with the company as a strategic adviser and plans to take time off to think about the future of blockchain and financial systems. “I will always remain a champion of Aptos and its mission,” he wrote, adding that he “can look forward to continuing to help Aptos maintain its role as the world’s leading blockchain.”
