Kraken Streamlines Workforce as New Co-CEO Arjun Sethi Joins
Kraken cuts jobs as new co-CEO, Arjun Sethi, steps in.
U.S.-based crypto exchange Kraken is trimming its workforce as part of a restructuring effort, just as Arjun Sethi, co-founder of Tribe Capital, steps in as co-CEO alongside Dave Ripley.
Although details on how many were laid off remain unclear, Kraken’s recent blog post cited a need to streamline management and boost operational efficiency as the company eyes an IPO.
This shift comes at a challenging time for crypto, with other big names like Consensys and DYdX also announcing layoffs, reflecting broader industry pressures.
Kraken, founded in 2011 and with revenue now topping $1 billion, faces an uncertain future as U.S. regulatory policies around digital assets continue to evolve, potentially impacting growth in the crypto space.
