The Crypto Company announced that on May 21, 2018, James Gilbert, Chairman of the Board of Directors, Chief Executive Officer and President of the company, informed the company of his intention to resign as the Chief Executive Officer and President, effective as of May 22, 2018. Mr. Gilbert will remain as a director and Chairman of the Board of Directors. On May 21, 2018, the Board of Directors appointed Ron Levy, the company's Chief Operating Officer, as the Chief Executive Officer and a director of the company, effective May 22, 2018.

Mr. Levy, 58, has served as the company's Chief Operating Officer since June 7, 2017. Mr. Levy's experience includes consulting for various emerging growth companies through various growth cycles. He also serves as Chief Operating Officer and Partner at Redwood Fund, LP since February 2014, and Ladyface Capital, LLC, the General Partner of Redwood, since July 2013.

In connection with Mr. Levy's appointment to the Board of Directors, he and the Company entered into a Director Services Agreement, effective May 25, 2018. Pursuant to the Director Services Agreement, Mr. Levy shall serve on the Compensation Committee, Audit Committee and/or Nominating and Governance Committee of the Board of Directors, to which he may be appointed by the Board of Directors, as well as provide any services related thereto as may be requested by the Company and agreed to by Mr. Levy from time to time. Mr. Levy will serve on the Board of Directors for a term of one year from the execution date of the Director Services Agreement or until his earlier death, resignation or removal, unless he is elected by the shareholders for an additional term.