DeFi Technologies witnessed a severe sell-off as investors reacted to a dramatic reduction in forward revenue guidance and an unexpected change in executive leadership. The stock plummeted more than 22% at its lowest point, reflecting a sharp decline in market confidence.
In a move coinciding with the financial update, the company announced a significant shift in its leadership structure. Founder Johan Wattenström has assumed the roles of Chief Executive Officer and Executive Chairman. Olivier Roussy Newton, the outgoing CEO, will transition to an advisory position within the organization. This leadership change arrives at a critical juncture, raising questions about the company’s strategic direction during a period of operational challenges.
