In a move that has left the crypto community scratching their heads and checking their wallets, Loopring CEO Steve Guo has decided to abandon ship-er, project-via a Medium post. Apparently, he’s off to spend more time with his family, which is code for “I’ve had enough of this circus.” 🌭🎪 How has the community reacted? Well, let’s just say the popcorn is flowing faster than LRC tokens. 🍿
- Steve Guo, the elusive CEO of Loopring, is out as of August 2025, citing family time as his escape hatch. 🏃♂️👨👩👧👦
- Traders, already miffed about the sunset of the smart wallet feature, were busy questioning whether Guo was ever real to begin with. 🤔👻
- LRC price surged 9.1% post-resignation, because apparently, the market loves a good CEO exit drama. 📈🎭
In a Medium post titled “Time to Say Goodbye” (which sounds more like a breakup letter than a professional resignation), Steve Guo announced he’s stepping down as CEO of Loopring (LRC) in August 2025. His reason? Family time. Because nothing says “I’m done here” like a sudden urge to bond with the kids. 🏠👨👩👧👦
“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,” Guo said, probably while packing his bags and humming *‘Don’t Look Back in Anger’*. 🎶🧳
Loopring, for those not in the know, is an open-source Layer 2 protocol that supports decentralized exchanges and payment systems on Ethereum (ETH). It’s like the unsung hero of the crypto world, except this hero just lost its CEO. 🦸♂️💔
In his farewell letter, Guo reminisced about the highs and lows of his tenure. He boasted about building a DeFi-powered ecosystem with features like dual investment, block trade, and portal. But then there was that little hiccup with the Smart Wallet segment, which was unceremoniously shut down, leaving the community fuming. 🔥💼
Back in June 2025, when the wallet interface was axed, traders took to X (formerly Twitter) to vent. Some even questioned whether Steve Guo was a real person or just a cleverly crafted JPEG. One trader mused, “I have never heard a word out of Steve Guo. Who even knows if the guy exists? Who the hell runs Loopring is the question?” Another quipped, “Rats fleeing the ship, Steve Guo the fake CEO who did nothing but rot the protocol to the ground.” Ouch. 😬🐀
At press time, the community seems to be stuck in June 2025, still ranting about the wallet shutdown. Meanwhile, Loopring’s official account hasn’t even acknowledged Guo’s resignation. Awkward. 🤫📰
LRC Price Surges 9% Because Drama Sells 🚀💰
Instead of tanking, LRC decided to party like it’s 2021, surging 9.1% after Guo’s exit. At press time, it’s trading at $0.09945, which is basically a standing ovation in crypto terms. This is in stark contrast to other leadership exits, like Jason Zhao’s departure from Story Protocol (IP), which sent its token into a nosedive. 🪂📉
But, as with all good things in crypto, the surge was short-lived. By September, LRC had retraced to the $0.099-$0.100 range, proving that even the most dramatic exits can’t sustain a rally forever. 📉💭
The Relative Strength Index (RSI) spiked into near-overbought territory during the rally but has since cooled to 47, indicating that the bulls have taken a nap. Meanwhile, the price has slipped below the 30-period moving average of $0.1005, hinting at a potential bearish crossover if support doesn’t hold. 🐻📊
So, what’s next for Loopring? Will the new leadership turn things around, or will it continue to be the crypto equivalent of a soap opera? Only time will tell. Until then, grab your popcorn and enjoy the show. 🍿🎬
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2025-09-01 10:56