tZERO CEO Steps Down, Chief Legal Officer Named Interim CEO

The CEO of tZERO resigned on Friday (Aug. 13) to “continue his passion for technological innovation and explore other opportunities,” the blockchain asset management company said in an announcement.

Saum Noursalehi was also a member of the tZERO board of directors. The board appointed tZERO Chief Legal Officer Alan Konevsky as interim CEO during the search for a permanent replacement.

“When I joined tZERO, the company was still defining its strategic vision, digital product platform and roadmap, and [was] forming the right organization to execute its mission,” said Noursalehi in the company announcement. “Having accomplished these targets with our new organization, I am ready to pursue the next challenge in my career.”

Konevsky joined tZERO in December 2018 as chief legal officer. He is also a member of the board of directors of the Boston Security Token Exchange, a joint venture between BOX Digital Markets LLC and tZERO.

Konevsky said he will approach his interim leadership position “with drive and purpose and am committed to working closely with the board and our resilient management team to execute tZERO’s strategy aggressively as we onboard more digital securities and cryptocurrencies, deploy a seamless way to trade across a range of digital and conventional assets, and serve as a powerful advocate for responsible innovation and regulation in the digital ecosystem.”

“The company is well-positioned to continue its mission in democratizing access to private assets, bringing digital technology to capital markets, and providing investors with a seamless and holistic way to access all assets, such as cryptocurrencies, digital and conventional securities, and other assets, including NFTs,” said Matt Mosman, a member of tZERO’s board of directors and general partner at Pelion Venture Partners, which manages the Medici Ventures Fund, the largest shareholder of tZERO.

“Alan’s breadth of industry knowledge and experience at tZERO have positioned him to successfully oversee the company,” he added.

Related: tZERO Rolls Out Retail Broker-Dealer Subsidiary

In October, tZERO announced the availability of its tZERO Markets retail broker-dealer subsidiary. The subsidiary, which also has a web application, offers digital brokerage services, helping with digital asset trading on its tZERO ATS alternative trading system.