Muneeb Ali, founder of Stacks, is returning as CEO of Stacks Labs after five years, replacing interim CEO Alex Miller. The STX token surged 28.8% in 24 hours, reaching approximately $0.4039, driven by his return and the network’s development prospects. Stacks Labs already collaborates with several institutional players including 21Shares, Anchorage Digital, Fireblocks and HashKey Cloud for Bitcoin staking. The company notably launched the Genesis Bond with 250 BTC from four institutions. Ali identified three key priorities: scaling network capacity by 100x, developing institutional-grade privacy, and preparing for post-quantum resistance.
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