Friday, 24 March, 2023

Kraken To Lay Off Approximately 1,100 People Globally as Crypto Cold Bites

<p>Kraken, a cryptocurrency exchange, announced a 30% reduction in its global staff, or over 1,100 personnel, blaming difficult market conditions that have hampered demand for digital assets this year. Higher interest rates and fears of an economic slowdown have roiled cryptocurrencies, with investors fleeing riskier assets, and recent bankruptcies have added to the uncertainty. The firm has also dropped trading volumes and client sign ups.</p>