Mo Shaikh, a co-creator of the Aptos blockchain and co-founder and CEO of the Aptos Labs firm that helps support it, announced Thursday that he's leaving the company to focus on an as-yet-unrevealed new venture.

"Today, I am stepping away from Aptos Labs to start a new chapter," Shaikh wrote on X. "One of my true passions lies in building companies from the ground up, and we have done that at Aptos Labs by building a world-class team."

"I leave Aptos Labs with the utmost confidence in the team," he continued, "and strongly believe the talent and drive of Aptos Labs will bring our collective vision to life in the near future."

Aptos Labs co-founder and CTO Avery Ching will take over the CEO role, Shaikh wrote.

"Supporting and growing the ambitious Aptos builders and community, pushing the boundaries of innovation in Web3 technology, and high-velocity pioneering products are my immediate priorities for this next chapter," Ching wrote in a post shared to X. "I’m going to hit the ground running."

Shaikh did not immediately respond to Decrypt's request for comment.

Editor's note: This story is breaking and will be updated with additional details.

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