Loopring CEO Steve Guo has announced his resignation in a recent Medium post titled “Time to Say Goodbye.” Effective August 2025, Guo said he is stepping down to spend more time with his family, calling the decision “never easy” after dedicating years of effort to the project.
Loopring, an open-source Layer 2 protocol for decentralized exchanges and payments on Ethereum, became the first to implement zkRollup technology. Under Guo’s leadership, the project expanded into a DeFi-powered ecosystem with features like dual investment, block trade, and portal. However, one of its major bets—the Smart Wallet segment—ended poorly. In June, Loopring abruptly shut down support for its wallet interface, triggering community backlash.
That controversy also sparked unusual speculation about Guo himself. Some traders on X questioned whether he was a real CEO at all, accusing him of being a “fake figurehead” or even just a “JPEG.” Others alleged that Loopring’s leadership had mismanaged funds while the protocol declined. As of press time, Loopring’s official account has yet to acknowledge Guo’s resignation.
Despite the uncertainty, Loopring’s token (LRC) initially rallied on the news. LRC jumped 9.1% to $0.09945 following Guo’s announcement, briefly spiking to $0.115 before retracing to the $0.099–$0.100 range. The short-lived surge suggests speculative buying, possibly driven by hopes that new leadership could redirect the project.
The correction underscores investor caution, as traders weigh profit-taking against the protocol’s fundamentals in the wake of Guo’s departure.
LRC’s charts signaled heightened volatility during the recent move. The Relative Strength Index briefly surged into near-overbought territory but has since cooled to around 47, suggesting that bullish momentum has faded and the token has returned to neutral ground.
At the same time, LRC slipped below its 30-period moving average at roughly $0.1005. If this level fails to hold as support, it could pave the way for a short-term bearish crossover.
