Maple founder responds to the departure of co-founders and COO: unrelated to loan books and business health

Maple, the on-chain asset management platform, CEO and co-founder Sidney Powell stated that co-founder Joe Flanagan and COO Ryan have decided to leave. Powell co-founded Maple with Joe Flanagan in 2019. Powell mentioned that the two parties have gradually differing views on the future path of Maple, leading Joe Flanagan to choose to leave, and Ryan also deciding to resign. Powell stated that the departures are unrelated to the loan book and business health, and Joe Flanagan will support the transition until the end of 2026, while he will continue to lead the team.

Powell stated that DeFi remains at the core of Maple, and existing DeFi partnerships are among the largest channels, with the company continuing to build in this area. He believes that the next step for on-chain finance is the convergence of DeFi with traditional finance, as well as fintech companies and new banks serving a large number of users. Maple plans to open underwriting strategies through Maple Earn to more allocators who wish to understand the sources of returns, and expand to more fintech companies, exchanges, and platforms through Maple Embed, allowing users to earn from real credit.

Powell noted that despite the challenges faced by DeFi this year, as of the end of the third quarter, Maple's revenue for the year has increased by 82% compared to 2025. Since 2019, Maple has issued over $20 billion in loans through more than 400 loan arrangements, with assets under management growing 50 times over three years, peaking at $4.9 billion, and distributing over $150 million in returns to lenders, primarily from interest repaid by borrowers. Currently, over 150 institutional lenders are collaborating with Maple, with more than 50 partners building based on Maple Embed. Powell stated that the credit team continues to underwrite and monitor loan arrangements in the usual manner, daily operations are normal, and withdrawal requests are processed according to the standard procedures of each fund pool.