Crypto exchange Kraken has laid off approximately 150 employees to reduce costs. According to Bloomberg, this decision is linked to the widespread implementation of artificial intelligence technologies and efforts to increase efficiency. This was reported by Cointelegraph.com reports .
Company representatives stated that artificial intelligence is being actively used in Kraken's business processes, though no further layoffs are currently planned. These changes have impacted the company's plans to go public (IPO) in the U.S., potentially delaying it until 2027.
This year, companies in the crypto industry have laid off over 5,000 employees under the guise of increasing efficiency through artificial intelligence. Specifically, Block Inc. reduced its staff by half in February, while major platforms such as Coinbase and Dune have taken similar measures.
Kraken began its IPO process last November, but it has been halted several times due to volatility in the crypto market. Although co-founder Arjun Sethi confirmed the IPO plans, he did not provide specific timelines.
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