Onramp CEO Tyrone Ross Jr. Departs Firm

Tyrone Ross Jr. is leaving his role as chief executive officer of Onramp Invest, the cryptocurrency portfolio aggregation platform for financial advisors, effective immediately, according to a letter sent to clients from the company and an open letter published on Medium by Ross.

Onramp co-founder Eric Ervin, the CEO of blockchain investment firm Blockforce Capital and the former head of Reality Shares ETFs, will be taking over leadership responsibilities at the crypto education and access provider.

Ross’s tenure at Onramp lasted 19 months, and saw the startup raise at least $6 million in seed funding and form partnerships with firms like Advyzon, Riskalyze and Ritholtz Wealth Management, which is also an investor in the firm.

“This is not the way I saw it ending and change isn’t easy, but it’s always necessary,” Ross wrote in an open letter noting his departure from the firm. “I wish Eric [Ervin] and the team continued success as they push forward in this emerging space. I believe undoubtedly that Onramp will remain the industry leader for cryptoasset education and access for RIAs.”

Ross remains a fiery advocate of crypto investing and his enthusiasm earned him a spot on WealthManagement.com’s 2019 Ten to Watch list. “If it means I take arrows in the back because people think I’m nuts, or I could possibly lose my job because I’m talking about cryptos, I’m willing to do that, because I’m certain this is the future of financial services,” he said, in an interview three years ago.

Just months later he became the public face of Onramp.

Ross and Ervin apparently differed on their strategy for growing Onramp, according to an email provided to customers and shared with WealthManagement.com.

“Starting a company requires a lot, but scaling it requires even more; and this is where Eric [Ervin] and I diverge on the path forward for Onramp,” said Ross, positioning his departure as “do[ing] what’s best for the company.”

“My goal is to remain at the forefront of cryptoasset education for advisers,” he added.

“Our entire team is grateful to Tyrone [Ross Jr.] for everything that he has done and contributed to make Onramp what it has become because it truly is the most recognizable and influential cryptoasset platform in the RIA space. That said, we are incredibly excited for the opportunity that still lies before us,” said Ervin.

Ross “will be taking time to decompress and assess new opportunities,” he said. “I look forward to the next chapter in my journey of building a legacy for my family.”

This is a developing story and will be updated.