Compound Labs’ general counsel announces departure

Oct 1, 2021 | The Block News | 0 comments

DeFi lending protocol Compound is losing its lead attorney. 

On October 1, Jake Chervinsky tweeted that he would be stepping down as Compound Labs’ general counsel, a role he has occupied for two and a half years.

In that time, Compound has grown dramatically, with over $15 billion in assets currently earning interest on its protocol. 

On September 29, Chervinsky announced that he would be working with Grwth Lbs as a strategic advisor on the Gro Protocol.  As for next full-time position, Chervinsky is playing that close to the vest. 

Chervinsky’s announcement comes as Compound faces scrutiny over a bug that distributed $80 million in mistaken rewards. Last night, Compound’s founder Robert Leshner tweeted what seemed to be a threat that who did not return those rewards would be doxxed. Leshner subsequently apologized.

Possibly to preemptively stave off any connection between the rewards mishap and his own departure, Chervinsky specified: “I gave notice four weeks ago & spent the month of September wrapping up & transitioning out.” 

Chervinsky did not immediately respond to The Block’s request for comment as to the COMP rewards or his replacement.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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