Kraken lays off staff, announces new co-CEO

From blockworks.co

Kraken announced layoffs Wednesday as the crypto exchange looks to shift its organizational structuring. It wasn’t immediately clear how many roles were impacted, and a Kraken spokesperson declined to comment. New York Times reporter Mike Isaac said 15% of roles were impacted, citing sources. “As we’ve grown north of $1 billion in net revenue as a remote organization worldwide, we fell into the trap of building organizational layers. We put managers in charge of the successes or failures of the groups they controlled, and we predicated success based on siloed P&Ls,” a blog post said. “At its best, this ... (full story)