Maple Finance Co-Founder and COO Depart Over Strategic Differences

Odaily — On-chain asset management firm Maple Finance's co-founder Joe Flanagan and Chief Operating Officer Ryan O'Shea are departing due to strategic differences. Flanagan will leave after seven years at the company and will assist with the transition through the end of 2026; O'Shea will step down on November 27 and will no longer hold any position thereafter.

Maple Finance said Flanagan's departure is a mutually agreed and orderly handover, with his responsibilities to be taken over by CEO Sidney Powell and the existing management team. The company has not yet announced a new chairman, nor did it specify the responsibilities of the two executives after their departures.

Maple Finance reported third-quarter revenue of $4.4 million, up 5% year-over-year; assets under management rose 18% year-over-year to $4.7 billion. SYRUP fell 7.5% over the past 24 hours and 12% over the past week; as of November 11, the protocol's total value locked had dropped about 11% from the end of September. (Cointelegraph)