Crypto World

Crypto exchange Kraken fires CFO Stephanie Lemmerman as long-awaited IPO draws closer

Published

5 hours ago

10 February 2026

Kraken parent company Payward says revenue grew 33% in 2025

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.

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.

Source link

Crypto World

Bitcoin in Focus as State Street Warns Dollar Could Fall 10% on Fed Cuts

Published

1 minute ago

10 February 2026

NewsAdmin

Bitcoin in Focus as State Street Warns Dollar Could Fall 10% on Fed Cuts

Strategists at State Street, one of the world’s largest asset managers, say the US dollar’s worst run in nearly a decade could deepen if the Federal Reserve eases policy more aggressively than markets expect, which is a distinct possibility following a possible leadership change at the central bank.

Speaking at a conference in Miami, State Street strategist Lee Ferridge said the dollar could decline by as much as 10% this year if financial conditions loosen further. While he described two rate cuts as a “reasonable base case,” he warned that the risks are skewed toward more reductions. “Three is possible,” Ferridge said.

Lower US interest rates tend to reduce the appeal of dollar-denominated assets, especially for foreign investors. As rate differentials narrow, overseas investors are more likely to increase currency hedging, which involves selling dollars to protect returns. That added hedging demand can amplify downward pressure on the currency.

Dollar weakness could also be tied to Kevin Warsh, US President Donald Trump’s pick to succeed Jerome Powell as Fed chair. If confirmed, Warsh is widely expected to favor a more aggressive pace of rate cuts.

With the central bank’s current target rate range of 3.50%-3.75%, markets are currently aligned with the more cautious scenario. According to CME Group’s FedWatch Tool, investors are pricing in two rate cuts this year, with the first likely coming in June. Two policy meetings are scheduled before then.

Federal Reserve, Dollar, Bitcoin Price — *June’s FOMC meeting is likely to see the first of two rate cuts this year. Source: CME FedWatch*

Weak dollar seen as catalyst for Bitcoin

A weaker US dollar has often coincided with stronger demand for risk assets, including Bitcoin (BTC) and other digital assets. Analysts frequently point to an inverse relationship between the US Dollar Index and Bitcoin, where periods of dollar softness tend to create a more favorable backdrop for crypto prices.

*The US Dollar Index recently touched a four-year low. Source:* *Bloomberg*

A falling dollar can ease financial conditions, boost global liquidity and push investors toward assets seen as alternatives to fiat currencies. That dynamic has helped support Bitcoin during several past dollar downturns.

Still, the relationship is far from automatic. Recent analysis suggests Bitcoin’s short-term performance has not consistently tracked dollar weakness, and in some periods, prices have even fallen alongside declines in the greenback.

Profit-taking, investor positioning, broader risk sentiment and uncertainty around monetary policy can all dampen the impact of currency moves.