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By Sam Reynolds|Edited by Stephen Alpher
Aug 17, 2025, 1:13 p.m.
- Jason Zhao, co-founder of Story Protocol, is stepping down from his full-time role to focus on a new AI initiative called Poseidon.
- Story Protocol, launched in 2021, has raised over $130 million and aims to make intellectual property programmable on blockchain.
- Leadership of Story Protocol will transition to co-founder SY Lee as CEO, with Zhao remaining as a strategic adviser.
Jason Zhao, co-founder of intellectual property blockchain project Story Protocol, is stepping away from his full-time role after more than three years of building the platform.
Zhao announced via a social media post that he will remain as a strategic adviser while turning his focus to a new AI initiative, Poseidon, which applies artificial intelligence to frontier industries such as science, biopharma, robotics, and space.
STORY CONTINUES BELOW
“Language generation is just the initial wave of a cascade of abundant intelligence across fields… that, if successful, will constitute a new Industrial Revolution,” Zhao said in a post on X.
Zhao launched Story Protocol in 2021 as a way to make intellectual property “programmable,” enabling rights holders to register and monetize content directly on-chain.
The project has since secured more than $130 million in venture funding from backers, including a16z.
Leadership will now pass fully to co-founder SY Lee as CEO, alongside Andrea as chief product officer and Sandeep as chief AI officer.
Zhao said he will remain close to Story through partnerships and investment, calling the project “the most meaningful experience of my life.”
Story Protocol’s token, IP, is trading above $5.80, up 2% on-day.
Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX’s collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.
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By Will Canny|Edited by Aoyon Ashraf
Aug 17, 2025
A rising bitcoin price is seen as most favorable for Galaxy’s digital assets business, while miners fight a rising network hashrate, the report said.
What to know:
- Bitcoin mining profitability increased in July as the world’s largest cryptocurrency outperformed the rise in the network hashrate, the report said.
- The bank said U.S.-listed miners accounted for 26% of the total network compared to 25% in June.
- Jefferies noted that IREN mined the most bitcoin in July, followed by MARA.
