Loopring’s CEO Steve Guo has officially stepped down, announcing his resignation in a Medium post titled “Time to Say Goodbye.” Guo, who led the project through years of growth and controversy, said he is leaving his role at the end of August 2025 to spend more time with his family.
Guo Bids Farewell
“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 wrote.
Loopring, an open-source Layer 2 protocol built on Ethereum, gained recognition as the first to deploy zk-Rollup technology to scale ETH transactions. Under Guo’s leadership, the project expanded its ecosystem with features like dual investment, block trading, and a DeFi-powered portal.
But not everything went smoothly. One of Loopring’s biggest bets the Smart Wallet was discontinued in late June, sparking widespread community frustration.
Doubts Over Leadership
The shutdown of the wallet brought a wave of criticism online, with some traders going as far as to question whether Guo even existed. Posts on X accused him of being a “fake CEO” or just a placeholder image while others suggested mismanagement at the protocol’s core.
“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?” one trader asked.
Another was harsher: “Rats fleeing the ship. Steve Guo the fake CEO who did nothing but rot the protocol to the ground while Wang drained Loopring.”
Despite his farewell post, Loopring’s official account has yet to acknowledge Guo’s resignation, leaving parts of the community unconvinced.
Market Reaction: LRC Jumps, Then Corrects
Interestingly, the token reacted positively at first. LRC surged 9.1% to $0.09945 following the resignation, briefly spiking as high as $0.115 before correcting back to the $0.099–$0.100 range.
This kind of speculative buying is unusual, as leadership exits in crypto often trigger sell-offs. Instead, traders seemed to bet on the possibility of fresh leadership steering the project in a new direction.
Technical Outlook
Charts show volatility in the wake of the news:
- RSI spiked into near-overbought territory during the rally but has since cooled to around 47, reflecting neutral momentum.
- LRC has slipped just below its 30-day moving average at $0.1005, which could hint at a short-term bearish crossover if the level doesn’t hold.
The Bottom Line
Steve Guo’s resignation has left the Loopring community divided some see it as a chance for a fresh start, while others still question his legitimacy as a leader. For now, the market has responded with a quick burst of optimism, but with the Smart Wallet shutdown still fresh in memory, confidence in Loopring’s long-term direction remains shaky.
