Polygon Labs Shakeup: President Ryan Wyatt Out, Marc Boiron Named CEO

Ryan Wyatt, president of Polygon Labs, has announced he will be stepping down from his position at the end of the month. He will be replaced by the project’s Chief Legal Officer, Marc Boiron.

Wyatt, who comes from a gaming and esports past, first took the position of Chief Executive Officer at Polygon Studios in February 2022. He later transitioned into the president role at the then newly-branded Polygon Labs.

Under his leadership, Polygon was named “Decrypt’s 2022 Project of the Year.” Shaking off the dust generated by the collapse of Terra and FTX, the ecosystem managed to get some massive brands on board, including Reddit, Starbucks, and Instagram.

Solana, Polygon, Cardano Still Recovering From the SEC Calling Them Securities

Solana, Polygon, Cardano, and other tokens being dragged into the court battles by the Security and Exchange Commission (SEC) have lost 15%, or $5 billion, off their collective market capitalizations, according to a Decrypt analysis of CoinGecko data. On June 5 and June 6, the SEC filed lawsuits against Binance and Coinbase—two of the largest crypto exchanges in the industry. Among the charges leveled at the two exchanges were allegations they were selling unregistered securities. The industry w...

While Wyatt will now serve as an advisor, Marc Boiron, a well known Web3 veteran will be taking his place. Before Polygon, Boiron led the legal department at dYdX Trading, along with advising Compound Labs and Uniswap Labs.

Boiron tweeted earlier today: “It's a privilege to serve the community & company as the Polygon 2.0 era begins!”

In turn, the chief legal officer role left empty by Marc will be filled by Rebecca Rettig, who was acting chief policy officer at Polygon Labs for the past seven months–and was instrumental in the launch of The Value Prop.

She was previously CL/PO at Aave Labs, along with a brief stint on the board at now-defunct Silvergate Bank. Rettig has been a long time law partner with Boiron, declaring today on Twitter: “To say I'm thrilled to work with Marc in this capacity is an understatement.”

“Marc is a highly regarded web3 veteran and innovator with a super deep understanding of Web3 tech,” Sandeep Nailwal, co-founder and now executive chairman of Polygon Labs said on Twitter. “He has served as an advisor to leading crypto funds of the space, helping drive many of the most successful DeFi protocols.”

The company unveiled their Polygon 2.0 plans in late June this year, bidding to become the “value layer of the internet.”

MATIC, Polygon’s native token, seemed largely unphased by news of the change in leadership. It was trading for $0.67 at the time of writing, up 0.8% in the past day.