Aptos Labs Leadership Shift: Avery Ching Steps Into CEO Role

Aptos Labs is undergoing a significant leadership transition. Mo Shaikh, the project’s co-founder, has announced his departure as CEO, with Avery Ching, his co-founder, taking the helm to lead the Layer-1 blockchain into its next growth phase. The move, disclosed in December 2024, marks a pivotal moment for one of the crypto industry’s most well-funded blockchain initiatives.

The Milestone Behind the Transition

Over the past three years, Mo Shaikh and Avery Ching have built Aptos into a formidable force in blockchain development. The platform has secured an impressive $400 million in venture capital funding and cultivated what Shaikh described as “one of the most robust ecosystems, trusted by over a thousand builders and innovators around the globe.”

The company’s backbone is Move, a unique programming language originally developed for Facebook’s now-defunct Diem project. This technical foundation has attracted major institutional players including BlackRock, Google, Mastercard, PayPal, and top-tier venture firms like Dragonfly, Haun Ventures, a16z, Coinbase Ventures, Franklin Templeton, and others who collectively backed the project’s vision.

Avery Ching Takes the Wheel

In his departure announcement, Shaikh expressed confidence in Avery Ching’s ability to drive the next phase of Aptos’ development. The transition positions Ching to oversee the platform’s continued evolution while maintaining its competitive edge in the increasingly crowded Layer-1 blockchain space.

Shaikh acknowledged the critical support from all investors and partners who believed in the vision. “None of this would have been possible without the unwavering support of our incredible investors,” he wrote, specifically thanking the ecosystem of venture firms and angels who backed the project from its inception.

Mo Shaikh’s New Chapter

Rather than a complete exit, Shaikh’s transition represents an evolution. He will remain with Aptos as a strategic adviser, taking time to reflect on the future trajectory of blockchain technology and financial systems more broadly. In his statement, Shaikh reaffirmed his commitment: “I will always remain a champion of Aptos and its mission,” underscoring his ongoing belief in the platform’s potential to maintain its position as a leading Layer-1 blockchain.

The leadership change reflects a common pattern in maturing blockchain projects—founders transitioning from operational roles to strategic positions as projects scale and require different executive expertise to navigate what comes next.