Kraken Cuts Hundreds in Prepping for Potential Public Listing

Crypto exchange Kraken has recently made significant workforce reductions across various departments, sources indicate. These cuts, part of a broader restructuring effort aimed at streamlining operations before a potential public listing, affect hundreds of employees. The layoffs have taken place since last year and follow the appointment of Arjun Sethi as co-CEO alongside David Ripley in October 2023, following Jesse Powell’s departure.