Bitget-Backed Morph Faces Leadership Shakeup as CEO Cecilia Hsueh Steps Down

Cecilia Hsueh, CEO of Morph—a modular blockchain project incubated by cryptocurrency exchange Bitget—has resigned following internal disputes and operational challenges. The transition, which occurred in March but was only recently disclosed to staff, stemmed from reported tensions between Hsueh and co-founder Azeem Khan. Hsueh will remain in an advisory role after stepping back from daily operations earlier this year. The leadership shakeup highlights growing pains for the Layer-2 project as it navigates its development phase under Bitget’s ecosystem. This development comes as Bitget continues expanding its blockchain infrastructure investments amid 2025’s competitive Layer-2 landscape.

CEO Transition at Bitget-Backed Layer-2 Project Morph Sparks Internal Turmoil

Cecilia Hsueh, CEO of Morph—Bitget’s incubated modular blockchain project—has stepped down amid operational challenges and leadership disputes. The transition, privately disclosed in March but only recently communicated to staff, follows reported tensions between Hsueh and co-founder Azeem Khan.

Hsueh retains an advisory role after distancing herself from daily operations earlier this year. "I’m Morph’s public face," she noted, emphasizing efforts to minimize disruption. Dragonfly, lead investor in Morph’s 2023 seed round, declined to comment on the leadership shift.

Current and former employees describe a fractious work environment, with sources alleging competing influence between Hsueh and Foresight Ventures partner Forest Bai. Foresight operates as both Bitget’s venture arm and a key Morph stakeholder.

Bitget Enhances Trading Infrastructure Through Kronos Research Partnership

Bitget has forged a strategic alliance with Kronos Research, a quantitative trading powerhouse, to elevate liquidity and execution quality on its platform. The integration targets tighter spreads and reduced slippage across Core trading pairs—addressing a critical need for institutional participants and active traders alike.

"This collaboration anchors Bitget’s institutional strategy," the exchange stated, emphasizing Kronos’ market-making expertise as a catalyst for deeper order books. Early data shows 15-20% improvement in large-order fill rates for BTC and ETH perpetual swaps during volatile sessions.

The move comes as Asian exchanges aggressively court professional traders. Bitget’s open interest surged 40% quarter-over-quarter, outpacing regional rivals. Kronos’ algorithmic infrastructure now processes approximately $5-7 billion in daily crypto volume across venues.