Kraken trims workforce as AI adoption grows across crypto sector
Kraken has reportedly reduced its workforce by around 150 employees as the crypto exchange increases the use of artificial intelligence across its operations, a move that Bloomberg said could delay the companys planned U.S. public listing until 2027.Kraken has reportedly laid off about 150 employees as AI tools take on a larger role across the exchange.Bloomberg said the latest cuts may push Krakens planned U.S. public listing into 2027.Coinbase, Gemini, and other crypto firms have also reduced staff this year while restructuring operations around AI use. Bloomberg reported on Friday, citing a person familiar with the matter, that the layoffs were tied to operational efficiencies created through AI deployment inside the company, whose corporate entity is known as Payward. The same source told Bloomberg that Kraken is not preparing another round of cuts for now, even as AI tools are being adopted more aggressively across different teams. Pressure on crypto firms has continued to build this year as falling digital asset prices and rising automation costs reshape spending plans across the sector. Publicly traded crypto companies have already posted weaker first-quarter earnings after crypto markets lost momentum late last year. While Kraken had previously been expected to pursue a U.S. public offering this