Kraken will lay off 30% of its employees
Cryptocurrency exchange Kraken will cut 30% of jobs, which is about 1.1 thousand employees. This decision was made so that the company could survive the Crypto Winter and adapt to the current market conditions. The decision was published on the exchange's blog.
The reduction of the team is due to the high level of decline in trading and reduced inflows of new customers, which is the consequence of macroeconomics and geopolitics. This information is from community cryptodefix.com. The size of the team will be reduced from the size of a year ago.
According to CEO Jesse Powell, the exchange has exhausted other ways to cut costs, and layoffs will help the platform maintain business in the long term.