Kraken will have their IPO this year on the American stock market, however, before this they have begun removing some employees because according the them, this is a reorganisation. But I am skeptical, did they do this to make their balance sheet more attractive for the IPO or are the executives in Kraken speculating that this market might not witness a pump for more months from now?

A company that is planning on having an IPO should be expanding, I reckon.



Kraken, which appears to be preparing for an initial public offering, is getting leaner.

The second-biggest US crypto exchange is making “the difficult decision” to eliminate jobs and consolidate teams as part of a reorganisation, a company spokesperson told DL News.

“We’re approaching this with discipline and intention,” the media rep said Friday, “making the difficult decision to eliminate certain roles and consolidate teams where redundancies exist, while continuing to hire in key areas of the business.”

Read in full https://www.dlnews.com/articles/markets/kraken-difficult-decision-shed-jobs-ahead-potential-ipo/