Kraken parent Payward sees revenue surge as tokenization expands

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Source: Payward Related: Kraken joins LayerZero exodus as it switches to Chainlink CCIP The update comes as crypto companies cut jobs amid weaker trading activity and increased use of artificial intelligence tools across the industry. Bloomberg reported Friday that Kraken recently cut about 150 employees as the company expanded its internal use of AI. The report said the layoffs could delay Kraken’s planned US public listing until 2027. Last week, Dune, a blockchain analytics and onchain data platform, said it fired 25% of its workforce as part of a restructuring focused on its core products. CEO Fredrik Haga said the company remains “well capitalized” and is increasing its focus on AI and institutional crypto adoption. Earlier this month, Coinbase said it would cut about 700 employees, or about 14% of its workforce, as the company reorganizes around smaller teams and wider use of AI tools. Crypto-related companies have cut more than 5,000 jobs so far this year, with financial technology company Block announcing one of the sector’s biggest reductions in February, cutting about 4,000 employees. Source: Brian Armstrong Magazine: eToro founder timed Bitcoin top perfectly due to belief in 4 year cycles More on the subject

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