Muneeb Ali said on X that he will serve as the new CEO of Stacks Labs. According to ChainCatcher, Stacks completed an ecosystem restructuring last year, making Stacks Labs the protocol’s operating center, and Alex Miller had served as interim CEO over the past year.

Ali said he is more bullish on STX than ever and plans to increase investment in Bitcoin capital markets development as Bitcoin staking is successfully launched. STX rose 10.9% over the past 24 hours following the announcement.