Kraken has fired its chief financial officer, Stephanie Lemmerman, as the cryptocurrency exchange prepares to go public in the United States early this year, according to two people familiar with the matter.
Lemmerman joined Kraken from Dapper Labs in November 2024 and served as the exchange’s chief financial officer for one year and four months. She now works as a strategic advisor at Kraken, a person familiar with the matter said.
Former vice president of business development Robert Moore essentially took over her job, the person said. An updated leadership page on the website of Kraken parent company Payward Inc. lists Moore as deputy chief financial officer. Lemmerman didn’t show up.
Obviously, it’s important that Kraken fired its chief financial officer after filing confidential documents with U.S. regulators in November. Just days ago, Kraken raised $800 million at a $20 billion valuation, including $200 million from Citadel Securities.
Others promoted to senior positions include Curtis Ting, who was named chief operating officer in December, and Kamo Asatryan, who was named chief data officer in January.
Another person familiar with the changes said Kraken’s finance is becoming more of a product than a back-office function.
Kraken declined to comment.