BitFlyer, the renowned crypto exchange headquartered in Japan, has announced the reappointment of its co-founder, Yuzo Kano, as the Chief Executive Officer. Following a thorough deliberation on the ownership of BitFlyer, the company has decided to entrust Kano with the responsibility of leading the organization as its CEO.
In 2019, Kano decided to step down from the CEO role amidst a string of management conflicts. This led to an investigation by the Financial Services Agency (FSA) into the exchange, which called for more rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols.
In February of 2023, Kano, a significant shareholder with a 40% stake in the company, shared his concerns about returning to the exchange and proposed leading the company toward an Initial Public Offering (IPO) shortly. As a visionary leader, Kano emphasized his intention to elevate the company internationally, stating his determination to equip it with the necessary tools to compete globally.
Kano has provided a reassuring update, confirming that stablecoins will be introduced to the platform upon his return to the company. He focuses on establishing a token-issuance operation and making the company’s “miyabi” blockchain accessible to the public. These developments are set to bring stability and accessibility to the platform, marking an exciting step forward for the company.
Fascinatingly, he highlighted the various executives who have assumed leadership roles within the company and, unfortunately, have demonstrated a series of missteps and limitations. He remarked professionally:
It’s my responsibility to point out issues and demand improvement […] I reprimand people when they cause problems, make false reports or fail to do whatever they are supposed to do.
During the shareholders’ meeting on 30 March 2023, Kano’s proposal for management modification was accepted, along with his voluntary offer to assume the former post. This outcome reflects the company’s commitment to effective leadership and strategic decision-making.
Despite BitFlyer officials declining to comment, a reliable source has confirmed that Kano will be reinstated to his former position. The source, who wishes to remain anonymous until the matter is made public, was hesitant to disclose their identity.
