DeFi Technologies Shares Plummet Amid Earnings Miss and Leadership Shakeup

DeFi Technologies finds itself navigating turbulent market conditions following a disappointing quarterly report and sudden executive departure. The company’s stock experienced a dramatic 15.2% decline on Friday, closing at $1.23 per share as investors reacted to the troubling developments.

In a move that surprised market observers, CEO Olivier Roussy Newton announced his resignation shortly after the earnings release. The board moved quickly to appoint co-founder Johan Wattenström as the new Chief Executive Officer and Executive Chairman. Newton will transition to a strategic advisory role beginning in December.

This leadership change comes at a critical juncture for the company, raising questions about whether the new executive can steer the organization Read more...