Kraken has fired its chief financial officer, Stephanie Lemmerman, just as the crypto exchange prepares to list publicly in the US early 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. He now has a strategic advisory role at Kraken, one of the people said.
Robert Moore, former vice president of business expansion, basically took over his job, the person said. An updated leadership page on the website of Kraken’s parent company, Payward Inc., lists Moore as deputy chief financial officer. Lemmerman does not appear.
It clearly matters that Kraken has removed its CFO after filing a confidential filing with US regulators in November. This 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 positions include Curtis Ting, who was named chief operating officer in December, and Kamo Asatryan was named 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 an administrative function.
Kraken declined to comment.
