Kraken Cuts 150 Jobs, Citing AI, Delays IPO
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- Kraken cut 150 staff, saying AI‑driven efficiencies justified the layoffs.
- Kraken announced the cuts as Dune reduced its workforce by 25%, highlighting a broader AI‑cost‑cut trend in crypto.
- Kraken’s staff reduction raises concerns that its planned IPO could be delayed, echoing similar AI‑related cuts at Coinbase (700 jobs), Gemini (200 jobs) and Crypto.com (≈180 jobs).
Why it matters: Kraken's 150‑job reduction may postpone its slated IPO, postponing capital for investors and shareholders while eliminating positions for dozens of employees and intensifying industry pressure to cut costs via AI.
