{"id":141023,"date":"2024-10-31T13:30:17","date_gmt":"2024-10-31T11:30:17","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141023"},"modified":"2024-10-31T00:37:25","modified_gmt":"2024-10-30T22:37:25","slug":"crypto-companies-continue-with-major-layoffs-kraken-cuts-15-of-workforce","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/crypto-companies-continue-with-major-layoffs-kraken-cuts-15-of-workforce\/","title":{"rendered":"Crypto Companies Continue With Major Layoffs &#8211; Kraken Cuts 15% of Workforce"},"content":{"rendered":"<p>This move, first reported by the New York Times, coincides with Arjun Sethi\u2019s appointment as co-CEO alongside Dave Ripley.<\/p>\n<p>In a blog <strong><a href=\"https:\/\/blog.kraken.com\/news\/a-new-day-for-kraken#:~:text=Making%20organizational%20changes%20is%20never,support%20them%20during%20this%20transition.\" target=\"_blank\" rel=\"nofollow\">post<\/a><\/strong>, Kraken emphasized the need for \u201corganizational discipline\u201d and plans to streamline management layers that expanded significantly as its revenue surpassed $1 billion.<\/p>\n<p>Although specific roles were not disclosed, reports suggest senior management and C-suite positions were most affected. The company acknowledged the profound impact of these layoffs on employees and committed to providing support during the transition.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/dydx-reduces-core-team-by-35-as-part-of-strategic-shift\/\" title=\"dYdX Reduces Core Team by 35% as Part of Strategic Shift\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/dYdX-240x170.png\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">dYdX Reduces Core Team by 35% as Part of Strategic Shift<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>These layoffs reflect a wider trend in the cryptocurrency industry, with dYdX announcing a 35% reduction in its core team and Consensys cutting 20% of its workforce due to economic pressures and regulatory challenges.<\/p>\n<p>As part of its restructuring, Kraken is preparing for major developments in 2025, including the launch of its proprietary blockchain, Ink, aimed at enabling decentralized trading, borrowing, and lending. The exchange is also involved in a legal dispute with the SEC over allegations of offering unregistered securities, which Kraken contests, arguing that tokens like ADA, ALGO, and SOL do not meet the U.S. definition of securities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kraken has announced a reduction in its workforce by about 15%, translating to around 400 jobs, as part of a recent organizational restructuring.<\/p>\n","protected":false},"author":3,"featured_media":37356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-141023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Companies Continue With Major Layoffs - Kraken Cuts 15% of Workforce<\/title>\n<meta name=\"description\" content=\"Kraken has announced a reduction in its workforce by about 15%, translating to around 400 jobs, as part of a recent organizational ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptodnes.bg\/en\/crypto-companies-continue-with-major-layoffs-kraken-cuts-15-of-workforce\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Companies Continue With Major Layoffs - Kraken Cuts 15% of Workforce\" \/>\n<meta property=\"og:description\" content=\"Kraken has announced a reduction in its workforce by about 15%, translating to around 400 jobs, as part of a recent organizational ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptodnes.bg\/en\/crypto-companies-continue-with-major-layoffs-kraken-cuts-15-of-workforce\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoDnes EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-31T11:30:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Layoffs-Laid-Off-Fired-Terminated-Dice.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Alexander Stefanov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexander Stefanov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-companies-continue-with-major-layoffs-kraken-cuts-15-of-workforce\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-companies-continue-with-major-layoffs-kraken-cuts-15-of-workforce\/\"},\"author\":{\"name\":\"Alexander Stefanov\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5\"},\"headline\":\"Crypto Companies Continue With Major Layoffs &#8211; 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