Five years ago, the cryptocurrency startup Blockchain was seen as a rising star within the burgeoning field. Equipped with a conspicuous name and a practical-sounding plan to help consumers store crypto assets, it attracted $70 million in venture capital over several years from prominent funders.
But behind the scenes, the London-based startup has been struggling. Lacking a steady business model, it has found itself eclipsed by faster-growing rivals. Senior managers, meanwhile, have been heading for the exits. Two of Blockchain’s longest-serving senior executives—Chief Operating Officer Liana Douillet Guzmán and Chris Lavery, executive vice president of finance—are expected to leave the firm, people familiar with the matter said. Their departures haven’t been previously reported.