Kraken lays off hundreds to streamline business ahead of IPO, Coindesk reports

Hundreds of more people have been laid off since Kraken appointed Arjun Sethi as co-CEO last year and reported a cut of 15% in its workforce, the report added, citing two people familiar with the matter. Kraken did not immediately respond to a Reuters request for comment. Crypto firms such as Kraken are looking to expand their businesses to traditional financial spaces on the back of U.S. President Donald Trump's promise of a more industry-friendly regulation.