Overview
- Bloomberg reported Friday that Kraken cut about 150 roles as it rolls out AI tools and now targets a 2027 U.S. listing, a timeline the company has not confirmed.
- Co-CEO Arjun Sethi said in April that Kraken had confidentially filed with the SEC to go public after pausing the process in March during a crypto sell-off.
- The exchange posted strong 2025 results with revenue up 33% to $2.2 billion, adjusted EBITDA of $530.6 million, and 5.7 million funded accounts.
- Kraken broadened its footprint through acquisitions and licenses, including a Bitnomial deal worth up to $550 million that secured full U.S. derivatives permissions and a MiFID II license for its Cyprus arm.
- More than 5,000 crypto jobs have been cut this year as firms cite automation, with moves by Coinbase, Gemini, and Dune pointing to leaner teams and slower listing plans across the sector.