Tyrone Ross resigns as CEO of Onramp Invest

Tyrone Ross Jr. has resigned as chief executive of Onramp Invest, effective immediately. Co-founder Eric Ervin has taken over as CEO, according to an email sent to investors late Monday night.

When reached for comment early Tuesday morning, Ross said he was in the process of posting a statement on LinkedIn. The statement doesn’t explain why he’s suddenly leaving the 19-month-old fintech platform that provides financial advisers with education and access to cryptocurrency investments.

Nor did Ross, who co-founded Onramp, explain in his statement what he plans to do next.

“The last 19 months were a trial by fire that has pressured and molded me into a better man and leader,” the statement reads in part. “You all made it possible and for that I am eternally grateful.”

Ross wrapped up his post by saying he “will be taking time to decompress and assess new opportunities. I look forward to the next chapter in my journey of building a legacy for my family.”

In his email to investors Monday evening, Ervin was similarly cryptic.

After reassuring investors by introducing himself as the new person in charge, Ervin referenced the origins of Onramp and how he and Ross “agreed that in order to build quickly and scale, we should each focus on our strengths. He focused primarily on raising capital, building the brand, and attracting talent, while I focused on the day-to-day operations, product development, and building the business.”

“What we achieved in such a short amount of time is remarkable,” Ervin added. “However, we are now at a crossroads. The small company we started just 19 months ago has grown significantly and we now realize the stresses that dual leadership places on the company.”

Onramp did not respond to a request for comment for this story, but by Tuesday morning the Onramp website was already updated to show the management change.

As news of Ross’ departure was sinking in Tuesday morning, industry consultant Suzanne Siracuse predicted more big things from Ross.

“I cannot wait to see what Tyrone does next,” Siracuse said. “He is a true visionary, leader and disrupter.  We are lucky to have him and his perspective as a part of our industry. He has managed to brand crypto assets in a very short period of time. I’m not sure who else could have done that.”

The post Tyrone Ross resigns as CEO of Onramp Invest appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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