Kraken Cuts 150+ Jobs as AI Reshapes Crypto Exchange Operations

TheNewsCryptoPublished on 2026-05-18Last updated on 2026-05-18

Abstract

Cryptocurrency exchange Kraken has reportedly laid off over 150 employees as part of cost reductions achieved through company-wide AI implementation. The move has delayed Kraken's planned U.S. initial public offering (IPO) until at least next year, with a public listing goal now set for 2027. The layoffs reflect a broader industry trend, where AI-driven efficiencies have contributed to significant workforce reductions across crypto firms this year, including a major cut of 4,000 staff at Block Inc. earlier in 2026. Amid a declining crypto market impacting public companies' finances, Kraken joins other firms like data provider Dune in restructuring and focusing on core operations.

In an effort to save costs, cryptocurrency exchange Kraken may delay its US initial public offering (IPO) until next year, according to reports of layoffs. The exchange reportedly laid off over 150 workers on Friday due to cost reductions obtained via company-wide AI implementation, according to Bloomberg, which cited an unidentified source. Kraken is reportedly increasing its usage of AI, although the company has no current intentions to reduce further headcount.

Many in the crypto industry blame the growth of AI for the layoffs that have affected more than 5,000 workers this year. Block Inc. carried out the biggest round of layoffs by a cryptocurrency company so far in 2026, reducing 4,000 staff in February via AI-driven reductions. This was equivalent to almost half of the staff at the organization.

Kraken’s IPO Delay

Since the crypto prices started to fall towards the end of last year, public crypto businesses’ balance sheets have taken a major blow. The first quarter financials showed losses for some of these firms. Reportedly, Kraken’s intention to go public this year has been postponed due to its downsizing. The company’s US launch goal is 2027.

For some time now, Kraken has been planning to go public. The company chose to cancel its initial public offering (IPO) in March due to the declining cryptocurrency market, after confidentially filed with US regulators in November.

Also this week, crypto data provider Dune announced the layoff of 25% of its staff, stating that the cause was the necessity to restructure and focus on core operations. In a similar spirit, Kraken has laid off employees.

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Related Questions

QAccording to the article, how many employees did Kraken reportedly lay off and what was the primary reason given?

AKraken reportedly laid off over 150 employees. The primary reason given was cost reductions achieved through company-wide AI implementation.

QWhat is the new reported timeline for Kraken's US initial public offering (IPO)?

AKraken's US initial public offering (IPO) may be delayed until next year (2025), with the company's US launch goal now being 2027.

QWhich company executed the largest round of AI-driven layoffs in the crypto industry so far in 2026, and how many staff were affected?

ABlock Inc. executed the largest round of AI-driven layoffs in the crypto industry so far in 2026, reducing 4,000 staff in February.

QWhat major event in the cryptocurrency market reportedly caused Kraken to cancel its planned IPO in March?

AKraken reportedly canceled its planned IPO in March due to the declining cryptocurrency market.

QBesides Kraken, which other crypto company announced layoffs this week and what percentage of its staff was affected?

ACrypto data provider Dune announced layoffs this week, affecting 25% of its staff.

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