{"id":11066,"date":"2025-09-01T11:31:05","date_gmt":"2025-09-01T11:31:05","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=11066"},"modified":"2025-09-01T11:31:08","modified_gmt":"2025-09-01T11:31:08","slug":"loopring-ceo-steve-guo-resigns-community-reacts-with-skepticism-as-lrc-price-spikes","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/09\/01\/loopring-ceo-steve-guo-resigns-community-reacts-with-skepticism-as-lrc-price-spikes\/","title":{"rendered":"Loopring CEO Steve Guo Resigns, Community Reacts With Skepticism as LRC Price Spikes"},"content":{"rendered":"\n<p>Loopring\u2019s CEO <strong>Steve Guo<\/strong> has officially stepped down, announcing his resignation in a Medium post titled <em>\u201cTime to Say Goodbye.\u201d<\/em> Guo, who led the project through years of growth and controversy, said he is leaving his role at the end of <strong>August 2025<\/strong> to spend more time with his family.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Guo Bids Farewell<\/h2>\n\n\n\n<p>\u201cIt\u2019s never easy to say goodbye, especially to a project I\u2019ve poured so much heart and energy into, but the time has come to move forward,\u201d Guo wrote.<\/p>\n\n\n\n<p>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\u2019s leadership, the project expanded its ecosystem with features like <strong>dual investment, block trading, and a DeFi-powered portal.<\/strong><\/p>\n\n\n\n<p>But not everything went smoothly. One of Loopring\u2019s biggest bets the <strong>Smart Wallet<\/strong> was discontinued in late June, sparking widespread community frustration.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Doubts Over Leadership<\/h2>\n\n\n\n<p>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 \u201cfake CEO\u201d or just a placeholder image while others suggested mismanagement at the protocol\u2019s core.<\/p>\n\n\n\n<p>\u201cI have never heard a word out of Steve Guo. Who even knows if the guy exists? Who the hell runs Loopring is the question?\u201d one trader asked.<\/p>\n\n\n\n<p>Another was harsher: <em>\u201cRats fleeing the ship. Steve Guo the fake CEO who did nothing but rot the protocol to the ground while Wang drained Loopring.\u201d<\/em><\/p>\n\n\n\n<p>Despite his farewell post, <strong>Loopring\u2019s official account has yet to acknowledge Guo\u2019s resignation<\/strong>, leaving parts of the community unconvinced.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Market Reaction: LRC Jumps, Then Corrects<\/h2>\n\n\n\n<p>Interestingly, the token reacted positively at first. <strong>LRC surged 9.1% to $0.09945<\/strong> following the resignation, briefly spiking as high as <strong>$0.115<\/strong> before correcting back to the $0.099\u2013$0.100 range.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Technical Outlook<\/h2>\n\n\n\n<p>Charts show volatility in the wake of the news:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>RSI<\/strong> spiked into near-overbought territory during the rally but has since cooled to around 47, reflecting neutral momentum.<\/li>\n\n\n\n<li>LRC has slipped just below its <strong>30-day moving average at $0.1005<\/strong>, which could hint at a short-term bearish crossover if the level doesn\u2019t hold.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">The Bottom Line<\/h2>\n\n\n\n<p>Steve Guo\u2019s 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\u2019s long-term direction remains shaky.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Loopring\u2019s CEO Steve Guo has officially stepped down, announcing his resignation in a Medium post titled \u201cTime to Say Goodbye.\u201d 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 \u201cIt\u2019s never&#8230;<\/p>\n","protected":false},"author":3,"featured_media":11075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[1644,281,1645],"class_list":["post-11066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-loopring","tag-price-analysis","tag-zkrollups"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Loopring CEO Steve Guo Resigns, Community Reacts With Skepticism as LRC Price Spikes - Crypto News<\/title>\n<meta name=\"description\" content=\"Loopring CEO Steve Guo has resigned, citing family reasons, sparking mixed reactions from the community. 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