The post CEO shakeup at Morph, Bitget’s layer-2 project appeared on BitcoinEthereumNews.com.

Morph, the L2 incubated by Bitget, aimed to be a contender in the modular blockchain space.  However, it hit a series of road bumps, as Blockworks previously reported, and is now facing another shakeup: the departure of a CEO. CEO Cecilia Hsueh told Blockworks she’s moving into an advisor role at the layer-2 incubated by Bitget.  Hsueh has yet to publicly announce her departure from the blockchain startup, but said she privately told the leadership at the startup behind Bitget’s L2 that she planned to step down in March of this year. “I talked to Dragonfly the first day I made this decision,” back in late February, at ETHDenver, she said. Dragonfly, who led Morph’s seed round last year, declined to comment. “Since I’m the face of Morph, I don’t want to create too much damage [for] Morph,” Hsueh explained in an interview. “For the past two [to] three months, I haven’t really been involved [in] the daily operation too much.” However, she said that she only told employees about the upcoming changes after a Blockworks investigation was published earlier this month.  A dozen current and ex-employees spoke to Blockworks about the work environment at Morph, including alleged power struggles between Hsueh and co-founder Azeem Khan.  The source also told Blockworks that they felt both Hsueh and Foresight Ventures partner Forest Bai were at the helm of Morph. Foresight is both the venture arm of Bitget and an investor in Morph. Bai also serves as chair of The Block.  Blockworks previously reported that Bai had been added to Slack in February, prior to Hsueh stepping aside, and employees had been asked to add him to Ecosystem and Marketing meetings, per a Slack message seen by Blockworks.  Bai, people familiar said, acted as more than just an investor, with multiple people…

---

Filed under: News - @ June 2, 2025 4:27 pm