Crypto exchange Kraken fires chief financial officer ahead of long-awaited IPO
Analysis
Price Impact
MedThe sudden removal of kraken's cfo just prior to a long-awaited ipo raises concerns about internal financial stability, corporate governance, or strategic direction. this could dampen investor enthusiasm for kraken's public listing and potentially cast a shadow of caution over the broader crypto market, particularly regarding institutional investment and regulatory perceptions.
Trustworthiness
HighThe information is sourced from multiple people familiar with the matter and corroborated by the updated leadership page on kraken's parent company website, lending high credibility to the report.
Price Direction
NeutralWhile not directly impacting specific coin prices dramatically, the news creates uncertainty around a major exchange's readiness for an ipo. this can lead to a more cautious sentiment among institutional investors and general market participants, potentially preventing upside momentum rather than causing an immediate sharp decline. for kraken's ipo prospects, it is clearly bearish.
Time Effect
LongThe ramifications of a cfo change ahead of an ipo, including potential delays, altered valuation expectations, or increased regulatory scrutiny, will unfold over several months as kraken navigates its public listing process. this will have a more prolonged effect on investor sentiment towards kraken and potentially other crypto firms considering ipos.
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Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Crypto exchange Kraken fires chief financial officer ahead of long-awaited IPO Kraken has moved chief financial officer Stephanie Lemmerman to a strategic advisory role, according to a person familiar with the matter. By Ian Allison | Edited by Sheldon Reback Feb 10, 2026, 3:44 p.m. Make us preferred on Google Kraken logo (Coindesk archives) What to know : Stephanie Lemmerman joined Kraken from Dapper Labs in November 2024 and was the exchange’s CFO for one year and four months. Robert Moore, Kraken’s VP of business expansion, has, in effect, taken over the role, the person said. Kraken sacked its chief financial officer, Stephanie Lemmerman, just as the crypto exchange prepares to publicly list in the U.S . in the early part of this year, according to two people familiar with the matter. Lemmerman joined Kraken from Dapper Labs in November 2024 and was the exchange’s CFO for one year and four months. She now has a strategic advisory role at Kraken, one of the people said. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . Robert Moore, formerly VP of business expansion, has basically taken over her job, the person said. An updated leadership page on the website of Kraken’s parent company, Payward Inc., lists Moore as deputy CFO. Lemmerman does not appear. Clearly it matters that Kraken has removed its CFO after lodging a confidential filing with U.S. regulators in November. That came just days after Kraken raised $800 million at a $20 billion valuation, including $200 million from Citadel Securities. Other people who have been promoted to senior roles include Curtis Ting, who was made chief operating officer in December, and Kamo Asatryan was made chief data officer in January. A second person familiar with the changes said finance at Kraken is changing to become more of a product than a back-office function. Kraken declined to comment. Kraken Management Crypto Exchanges Exclusive