Kraken Cuts 150 Jobs, Citing AI, Delays IPO
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- 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.
Ask SkimNews
