California-based crypto exchange Kraken has recently appointed its new chief financial officer Carrie Dolan. As per the press release, Dolan is a financial services veteran in fast-growing consumer fintech and Fortune 500 firms.
Dolan replaced its former CFO, Kaiser Ng, who held the position for five years, until January 2022, when he left to join an unnamed “crypto-native remote-first organization,” as per his LinkedIn. In a statement released by Kraken, Dolan said,
“I’m excited to join this incredible company at a pivotal time.And work with the rest of the team to continue delivering on Kraken’s mission to drive mainstream adoption by making sure crypto is understood, easily accessible, and trusted.”
Prior to this role, she worked in Tradeshift, a digital payments platform, and has held several key leadership roles at Lending Club, Metromile, Charles Schwab, and Chevron. While at Lending Club, Dolan managed its 2014 IPO, securing nearly $1 billion in capital and making it one of the largest U.S.-based internet public offerings
During her stint at Lending Club, the firm managed to make a name in the peer-to-peer lending space, before going public in December 2014. Then, nearly two years after Dolan exited the company in September 2016 the U.S. Securities and Exchange Commission charged her with incorrectly adjusting fund returns to improve the returns they reported to investors.
Dolan neither admitted nor denied the charges, and paid a fine of $65,000 which was part of a larger $4.2 million penalty against Lending Club itself. The latter was barred from the securities industry as part of the punitive action.
Kraken Vs Coinbase
Despite the taint, Dolan’s experience helped firms to raise capital and go public which could fulfill what Kraken needs and has been the firm’s agenda since mid-2021. Speculators believe that might help the exchange to overtake Coinbase and occupy the top place among the world’s best crypto exchanges.
Amidst the rivalries, Kraken found itself on the same page during growing calls for a blanket ban on Russian clients. As TronWeekly previously reported, Jesse Powell, CEO of crypto exchange Kraken, in a response to Ukraine’s Vice minister’s request, tweeted that the platform would not freeze the accounts of Russian clients unless legally told to do so.