Wallet Provider Blockchain.com Sees a String of Exec Departures: Report

United Kingdom-based cryptocurrency data and wallet provider Blockchain.com has come under the spotlight after a string of exits by company employees.

Citing sources familiar with the matter, an article published by The Information on Oct. 2 claims that Blockchain's longest-serving senior executives - COO Liana Douillet Guzmán and Chris Lavery, executive vice president of finance - are both expected to leave.

According to the report, several executives have previously left Blockchain within just 12 months of hiring.

They include the firm's head of institutional sales and strategy, its global head of institutional markets, the general manager of its flagship wallet product, global head of security and global head of policy.

Others have claimed that despite Blockchain's veteran position within the industry, employees perceive there to be a lack of growth opportunities and harbor doubts about the company's business strategy.

Founded in 2011, Blockchain.com offers a free cryptocurrency wallet with a reported 40 million registered users.

The report alleges that raising revenue sustainably from this user base has posed something of a conundrum for the firm.

A Blockchain spokesperson has firmly denied these claims.

Two of Blockchain's recent moves - the launch of a crypto-crypto trading product dubbed Swap, as well as the launch of its own crypto exchange, The Pit - are both now expected to put the company back on track for profitability by 2020, the firm's spokesperson has claimed.

Back in fall 2018, Cointelegraph reported that Blockchain had been ranked within the top ten most "Sought-after" U.K. startup employers in LinkedIn's listings.