PANews reported on February 10th that, according to sources, cryptocurrency exchange Kraken has replaced its Chief Financial Officer (CFO) Stephanie Lemmerman ahead of its IPO preparations. Lemmerman joined Kraken from Dapper Labs in November 2024 and is now serving as a strategic advisor. Vice President Robert Moore has taken over as CFO.

Kraken filed for an IPO with U.S. regulators last November and completed an $800 million funding round, valuing the company at $20 billion. The company also recently promoted Curtis Ting to Chief Operating Officer and Kamo Asatryan to Chief Data Officer. Kraken declined to comment.