Cryptocurrency exchange Kraken has replaced its Chief Financial Officer, Stephanie Lemmerman, as it prepares for an initial public offering (IPO). Lemmerman, who joined Kraken from Dapper Labs in November 2024, will now serve as a strategic advisor. Vice President Robert Moore has assumed the CFO role. Kraken filed for an IPO with U.S. regulators last November and recently completed an $800 million funding round, valuing the company at $20 billion. The company has also promoted Curtis Ting to Chief Operating Officer and Kamo Asatryan to Chief Data Officer. Kraken has not commented on the executive changes.