Kraken Cuts 150 Jobs After AI Deployment, IPO May Slip to 2027
Kraken has cut 150 employees after deploying AI, and its initial public offering may be delayed until 2027, pushing back the timetable for the cryptocurrency exchange's planned market debut.
Earlier reports said the cuts amounted to about 5% of the workforce at Payward, Kraken's parent company, and were part of an optimization effort to reduce costs and bolster financials ahead of the IPO. The listing had already looked likely to slip as a sharp decline in digital-asset prices weighed on the company, which was also seeking funding at a $20 billion valuation.
From the sources (6 posts)
@coindeskSCOOP: @Payward, the parent company of crypto platform @krakenfx is cutting 150 jobs as part of an optimization effort ahead of its planned IPO. @willcanny99 reports.
@degeneratenewsNEW: KRAKEN PARENT PAYWARD CUTS 150 STAFF, STREAMLINING BUSINESS AHEAD OF PLANNED IPO - PER COINDESK SOURCES SOURCE:
@wublockchainKraken Parent Payward Cuts 150 Jobs Ahead of Planned IPO According to CoinDesk, Payward, the parent company of crypto exchange Kraken, is laying off approximately 150 employees as part of an optimization and restructuring effort ahead of i
@layoffaiLAYOFF ALERT: KRAKEN 🚨 Coinbase last week, now Kraken crypto exchange is laying off 5% of their staff (~150 employees). This is an effort to optimize the company and bolster its financials ahead of its planned IPO. Kraken is additionally
@businessKraken, one of the world’s oldest cryptocurrency exchanges, has cut some staff to reduce costs and may not go public as soon as initially expected due to a sharp decline in digital-asset prices
@cointelegraph🚨 NEW: Kraken has cut 150 employees after deploying AI, and its IPO may be delayed until 2027.