It looks like Blockchain, the famous crypto wallet and service provider, is experiencing an executive exodus right now. According to recent reports made by The Information, two of the main execs of the firm are about to leave.
Liana Douillet Guzmán (COO) and Chris Lavery (executive VP of Finance) are both expected to leave the company soon. The two are among the executives who served in the company for the longest time as Guzmán entered the company in 2016 and Lavery joined early in 2017.
They are not the only ones leaving, though. Earlier this year, the company fired around 15% of its staff. Not a very good sign.
The exodus might be a new event at the company, but executives leaving are nothing new. According to The Information, five important execs left Blockchain in a period of 12 months after they were hired. Most of them left between the end of last year and the beginning of this one.
Among the executives who left earlier, held important roles such as the head of institutional sales, a general manager and a global head of security.
Why are all these people leaving? Maybe because the company was going through various struggles. The hardware wallet, that was launched last year was considered a commercial failure and the Stellar airdrop program was unsuccessful as well.
Blockchain was created in 2011, just a couple of years after Bitcoin. The company is one of the giants of the market and has received backing from investors such as Digital Currency Group, Google Ventures and Roger Ver.