Maple Co-Founder Joe Flanagan to Leave, Citing Differences With Sid Powell

According to ChainCatcher, Maple co-founder Joe Flanagan said he will leave the on-chain asset management platform, citing growing differences with fellow co-founder Sid Powell over strategy, leadership and life priorities. Flanagan said their disagreements were no longer beneficial to the team or business, and that one co-founder continuing to lead Maple was preferable to allowing the rift to deepen. Flanagan will step down as chairman and support the transition through the rest of this year at the request of Powell and the team, after which he will no longer be involved with Maple. He said he could not continue backing decisions and a direction he did not believe in, but was not leaving the industry and would share more about his plans soon. Maple confirmed the departure as an orderly transition agreed by both sides and said its direction would remain unchanged. Since 2019, Flanagan helped grow Maple’s assets under management to $4.8 billion and its loan originations to $20 billion.