BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Everything You Need to Know About Kraken Exchange’s 15% Job Cut

by Sham
October 30, 2024
in CRYPTO
Reading Time: 3 mins read
A A
3
SHARES
44
VIEWS
Share on XShare in TelegramShare on Reddit

• American crypto exchange Kraken has laid off staff and hired Arjun Sethi as a new co-CEO alongside David Ripley
• Kraken framed the layoffs as a move to become “leaner and faster” to become the largest crypto platform in the world
• Ethereum software company ConsenSys and decentralized exchange dYdX also recently announced layoffs, cutting 20% and 35% of staff respectively

American crypto exchange Kraken has undergone major changes recently, including new leadership and layoffs, as part of a pivot to make the company “leaner and faster.”

JUST IN: Crypto exchange @krakenfx laid off 15% of its workforce, citing the need for a leaner operational model pic.twitter.com/KriE5EIuiz

— BlockNews.com (@blocknewsdotcom) October 30, 2024

New Co-CEO

Kraken has hired Arjun Sethi as co-CEO alongside David Ripley. Sethi is co-founder and Chairman at Tribe Capital and was previously part of Yahoo’s executive team.

Layoffs

Along with Sethi’s appointment, Kraken has laid off an unspecified number of employees. The company said the layoffs are part of becoming “leaner and faster” in order to “put Kraken in contention to become the largest crypto platform in the world.”

Industry Context

Kraken is the third major crypto company to announce layoffs this week amid a recovering crypto market. On Tuesday, Ethereum software company Consensys laid off 20% of its workforce. Decentralized exchange dYdX also cut 35% of its staff this week.

decrypt.co

Kraken’s Statement

In a statement on Wednesday, Kraken said “To continue forging our path ahead and put Kraken in contention to become the largest crypto platform in the world, we need to be leaner and faster.”

The company did not provide further details on the number of employees laid off. According to a New York Times reporter, Kraken cut approximately 15% of its staff.

Looking Ahead

The layoffs and leadership change represent a major shift for Kraken as it aims to become more competitive in the evolving crypto industry. It remains to be seen how these moves will impact the company’s growth and market position going forward.

Tags: Arjun SethicryptoDavid RipleyKrakenTribe Capital
Tweet1ShareShare
Previous Post

FTX CEO Seeks Reduced Sentence for Ex-Exec Singh Before Sentencing Today

Next Post

Everything You Need to Know About MicroStrategy’s $42 Billion Bitcoin Plan Announcement

DON'T MISS THESE! HOT OFF THE PRESS

What Happened in Crypto This Week? Here is Everything Important You Need to Know
CRYPTO

What Happened in Crypto This Week? Here is Everything Important You Need to Know

July 19, 2025
XRP’s “Kaboom Phase” Might Just Be Getting Started
CRYPTO

XRP’s “Kaboom Phase” Might Just Be Getting Started

July 19, 2025
Litecoin Is Waking Up—And $120 Might Be Closer Than It Looks
CRYPTO

Litecoin Is Waking Up—And $120 Might Be Closer Than It Looks

July 19, 2025
Stellar (XLM) Hangs Tight at $0.47—But Is It Gearing Up for a Bigger Move?
CRYPTO

Stellar (XLM) Hangs Tight at $0.47—But Is It Gearing Up for a Bigger Move?

July 19, 2025
ONDO vs. Hedera (HBAR): Which Altcoin’s Got More Fuel Left in the Tank?
CRYPTO

ONDO vs. Hedera (HBAR): Which Altcoin’s Got More Fuel Left in the Tank?

July 19, 2025
Chainlink Joins SEC’s Crypto Task Force—What’s Coming Next?
CHAINLINK

Chainlink Joins SEC’s Crypto Task Force—What’s Coming Next?

July 19, 2025
Load More

Related News

What Happened in Crypto This Week? Here is Everything Important You Need to Know

What Happened in Crypto This Week? Here is Everything Important You Need to Know

July 19, 2025
XRP’s “Kaboom Phase” Might Just Be Getting Started

XRP’s “Kaboom Phase” Might Just Be Getting Started

July 19, 2025
Litecoin Is Waking Up—And $120 Might Be Closer Than It Looks

Litecoin Is Waking Up—And $120 Might Be Closer Than It Looks

July 19, 2025
Stellar (XLM) Hangs Tight at $0.47—But Is It Gearing Up for a Bigger Move?

Stellar (XLM) Hangs Tight at $0.47—But Is It Gearing Up for a Bigger Move?

July 19, 2025
ONDO vs. Hedera (HBAR): Which Altcoin’s Got More Fuel Left in the Tank?

ONDO vs. Hedera (HBAR): Which Altcoin’s Got More Fuel Left in the Tank?

July 19, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve Finance FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.