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    Algorand Foundation New CEO Staci Warden

    Question 31: Algorand Foundation appointed a new CEO Staci Warden on February 10th 2022. How did this impact the Algorand ecosystem? The week following announcement did we see an increase of ALGOs being moved from CEXs(centralized exchanges) to wallets? Or did we see an increase of ALGOs being moved from wallets back to CEXs?

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    Introduction

    Staci Warden had been serving in the Algorand's Foundation Board since September 2021 and was appointed as the Algorand CEO on February 10th 2022, effective on the same day.

    She has wide experience in traditional finance in the public sector in over 50 countries and prior to Algorand's Foundation, she led the Global Market Development at Milken Institute, focusing or more innovative solutions including crypto/blockchains.

    From the looks of it, her profile looks like a good match to drive the ecosystem growth and support inclusion and accesibility.

    But the question is, how did the ecosystem feels about her?

    Source

    Methodology

    A query with two CTE for the ALGO transfers to and from the centralized exchanges will be created, joining the algorand.payment_transaction with all ALGO transfers with the algorand.labels table where the cex addresses can be identified. The amount of ALGO will be aggregated by week and data for the week of the announcement and two weeks before and after will be shown.

    Results

    Neither ALGO moved to or from cex increased the week after the announcement. Quite the contrary, so a 50% decrease in ALGO transfers happened the week after the announcement. The following week, (week+2) the transfers increase 20-25% but are still far from the levels prior to the announcement.

    Conclusion

    For some reason or the other, the ecosystem was not very euforic about the appointment of Staci Warden as CEO. It could be that the leaving CEO Sean Lee was more value and its leave not seen as a positive, it could be that Staci Warden is not seen as a good candidate for the position, or most probably, that until the new direction that Algorand takes under the her command is more clear, investors decided to gather gains or at least have less exposure to price volatility on this moment.