Exec Exodus: Crypto.com Shakes Up Prediction Market Subsidiary

Steve Goodsell announced his departure as chief technology officer of Crypto.com-owned prediction market exchange CDNA on Friday, as the subsidiary continues to churn through executives.

Since last November, CDNA CEO Travis McGhee, chief compliance and regulatory officer Kevin Dan and chief risk officer Wen Jiang have also exited. Only the CEO role has been officially filled, according to the leadership page on the exchange’s website, with Marcus Dees moving into that slot from the chief operating officer’s post late last year.

Addressing some of his CDNA colleagues on LinkedIn, Goodsell wrote that he hopes “you guys finally get the autonomy you need to drive this business to the next level.” Goodsell attributed his exit to “yet another cost saving round in the parent company.”

Goodsell declined a request for further comment. McGhee, Dan and Jiang did not immediately respond to requests for comment.

“When Crypto.com acquired [the exchange] in 2022, it was a modest, opportunistic addition to our portfolio,” a Crypto.com official wrote in a statement. “However, particularly over the last 18 months, the rapid expansion of prediction markets and event contracts has revealed a far greater opportunity. In response, we have fundamentally elevated our focus on this sector. … To match this scaled vision, we have actively restructured and upgraded our dedicated teams to position [us] as a premier global leader in event derivatives.”