Chief Strategy Officer Phil Potter of Bitfinex announced Friday that he has decided to resign.

He is also leaving the same role at Bitfinex’s partner company, Tether Ltd., issuers of a stablecoin (USDT) that is pegged 1:1 in value to the US Dollar.

Potter Steps Down

In an emailed statement released to the media on Friday, Potter stated:

As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team.

The dubious timing on Potter’s departure, which comes in the wake of both companies being served subpoenas by the United States Commodities and Futures Trading Commission (CFTC) in December of last year, has raised questions as to whether the investigation was related to the split.

Bitfinex CSO Phil Potter Resigns

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