Kraken Announces Layoffs Amid Leadership Change
Kraken Announces Layoffs Amid Leadership Change
Kraken Announces Layoffs Amid Leadership Change
News summary

Kraken, a major cryptocurrency exchange, has announced a significant restructuring that includes layoffs affecting approximately 15% of its workforce, or around 400 employees. This move coincides with the appointment of Arjun Sethi, co-founder of Tribe Capital, as co-CEO alongside Dave Ripley. The company aims to streamline operations by reducing organizational layers that have hindered decision-making during its previous period of rapid growth. The layoffs are part of a broader trend of job cuts in the cryptocurrency sector, as other firms like Consensys and DYDX also reduce their headcounts amid ongoing regulatory uncertainties. Kraken's last round of layoffs occurred in November 2022, when the firm cut 30% of its staff due to the crypto market downturn. The exchange is reportedly exploring options for an Initial Public Offering (IPO) in the future.

Story Coverage
Bias Distribution
100% Left
Information Sources
71639883-fbbd-48af-8cc3-393f63e7b2ef
Left 100%
Coverage Details
Total News Sources
1
Left
1
Center
0
Right
0
Unrated
0
Last Updated
11 days ago
Bias Distribution
100% Left

Open Story Timeline

Story timeline 1Story timeline 2Story timeline 3Story timeline 4Story timeline 5Story timeline 6Story timeline 7Story timeline 8Story timeline 9Story timeline 10Story timeline 11Story timeline 12Story timeline 13Story timeline 14

Analyze and predict the
development of events

Related News
Daily Index

Negative

20Serious

Neutral

Optimistic

Positive

Ask VT AI
Story Coverage
Subscribe

Stay in the know

Get the latest news, exclusive insights, and curated content delivered straight to your inbox.

Related News
Recommended News