Kraken Cuts 150 Jobs as Crypto Slump Threatens IPO Timing

1 articles · Updated · Bloomberg · May 15

About 150 Kraken employees were laid off as the exchange moved to cut costs and improve efficiency, according to a person familiar with the matter.
A sharp drop in digital-asset prices is also pushing Kraken to reconsider how soon it can pursue an initial public offering.
AI tools helped drive the reductions by improving productivity, and the company is expanding that rollout across the business.
Further layoffs are not planned for now, but the moves show how weaker crypto markets are reshaping staffing and listing plans at one of the sector's oldest exchanges.

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