Maple Finance’s strategy rift sends co-founder, COO to the exits
Summary
Maple Finance co-founder and executive chairman Joe Flanagan and COO Ryan O’Shea are leaving after disagreements over the firm’s strategy. Flanagan will help with the transition through the end of 2026; O’Shea’s departure takes effect Nov. 27. Maple called Flanagan’s exit an orderly transition, with CEO Sidney Powell and the leadership team taking on his responsibilities, but named no replacement chairman. The departures come as Maple plans to expand beyond crypto-backed lending. Its business reported third-quarter revenue of $4.4 million, up 5% year over year, and assets under management of $4.7 billion, up 18%. Meanwhile, SYRUP fell 7.5% in 24 hours and was down 62% year to date; Maple’s TVL also declined.
