Wirecard AG CEO Markus Braun resigned with immediate assumption of office by mutual agreement with the Supervisory Board of the company.
James Freis has been appointed interim CEO with sole powers.
Braun’s resignation came the day after Ernst & Young (EY), the payment system provider auditor, was unable to confirm that he had €1.9 billion in account balances.
Against the background of the news, the company’s shares within an hour collapsed by almost 50% from €100.4 to € 53.35. On this, their decline did not end and the minimum amounted to €19.26.
After the rebound, Wirecard quotes rose at the time of writing to about €30. The company’s market capitalization, which previously reached €24 billion, is only €3.7 billion.
Wirecard is a card issuer for several cryptocurrency projects including Crypto.com, TenX and CryptoPay.
Recall, the developer of solutions for the blockchain project Telegram Open Network TON Labs planned in partnership with Wirecard to develop a new platform for the provision of digital financial and banking services.