1. Home
  2. workforce reduction

workforce reduction

Kraken restructures with new co-CEO, layoffs reported

Kraken hinted that its managerial structure would be reformed, without explaining the details.

Cryptocurrency exchange Kraken has declared “a new day,” with the appointment of new co-CEO Arjun Sethi and a managerial shakeup. There is also an unconfirmed report that 15% of the staff has been laid off.

Sethi is also the co-founder and chairman of Silicon Valley venture capital investor Tribe Capital and has been a member of the Kraken board since 2021. He will share the top position at Kraken with David Ripley.

In addition to disclosing Sethi’s appointment, Kraken announced coming fundamental changes on its blog on Oct. 30. “We need to be leaner and faster,” it said. Apparently, Kraken’s organizational structure is in for an overhaul. According to the blog:

Read more

Bitcoin Taps $84,995 All-Time High: Market Cap Hits $1.68 Trillion as FOMO Sets In

Matter Labs Restructures, Cuts 16% of Workforce Amid Strategy Shift

Matter Labs Restructures, Cuts 16% of Workforce Amid Strategy ShiftMatter Labs, a key player in the crypto industry, is restructuring, resulting in a 16% workforce reduction. The decision, made to align with evolving market demands and internal strategy shifts, was difficult but necessary, according to the CEO Alex Gluchowski. Departing employees will receive a comprehensive exit package, including salary continuation, healthcare, career support, and […]

Bitcoin Taps $84,995 All-Time High: Market Cap Hits $1.68 Trillion as FOMO Sets In

Matrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees Go

Matrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees GoThe crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons for the layoffs. Matrixport Lays Off 10% of Staff as Crypto Winter Continues Jihan […]

Bitcoin Taps $84,995 All-Time High: Market Cap Hits $1.68 Trillion as FOMO Sets In