The cuts may delay Kraken’s planned US IPO until 2027 amid weaker crypto market conditions and declining digital asset prices. The layoffs come as several crypto companies, including Coinbase, Gemini, Crypto.com, and Dune, already reduced staff and increased AI adoption in the industry.
Kraken Cuts 150 Jobs
Crypto exchange Kraken carried out another round of layoffs as the company increased its reliance on artificial intelligence to streamline operations. This is according to a recent report from Bloomberg.
The exchange cut approximately 150 jobs as part of efficiency measures tied to the growing implementation of AI tools in the business. While the company is not currently planning more layoffs, the move is clear proof of just how artificial intelligence is reshaping employment in the cryptocurrency industry.
The reported staff reductions may also impact Kraken’s long-awaited plans to go public in the United States. The exchange was expected to pursue an initial public offering sometime this year, but the latest developments suggest the timeline could now be pushed back until 2027. Kraken spent months exploring a public listing, including a confidential filing with US regulators late last year. However, the company reportedly paused those plans earlier this year due to deteriorating crypto market conditions and declining digital asset prices.
Kraken’s co-CEO Arjun Sethi recently said that the company still intends to pursue a public listing in the future, although he did not provide a specific timeline during a conference appearance last month.
The exchange is far from alone when it comes to embracing AI-driven restructuring. Cryptocurrency companies collectively eliminated more than 5,000 jobs in 2026 so far, with many firms pointing to automation and artificial intelligence as key reasons behind workforce reductions. One of the largest cuts came from Block Inc., which reportedly laid off around 4,000 employees in February.
Crypto analytics platform Dune recently reduced its workforce by 25%. Meanwhile, Coinbase reportedly cut around 700 employees earlier this month, also due to increased use of artificial intelligence. In addition to this. rival exchanges Gemini and Crypto.com also implemented layoffs this year.
The crypto sector has been under pressure from weakening market conditions after a decline in cryptocurrency prices since late last year. Several public crypto companies reported disappointing first-quarter earnings as lower trading activity and reduced investor sentiment weighed on revenues.
