Kraken cuts 150 staff amid AI efficiencies, potentially delaying IPO: Report

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Source: Semafor Related: How AI became crypto's favorite reason to cut staff The layoffs at Kraken come in the same week that crypto data company Dune said it laid off 25% of its workforce, citing a need to restructure its business and focus on its core products. Coinbase cut 700 employees, or about 14% of its workforce, earlier this month, on May 5, citing an increase in AI use. Rival crypto exchanges Gemini and Crypto.com also laid off 200 and about 180 employees, respectively, earlier this year, both citing the rising use of AI. Magazine: Guide to the top and emerging global crypto hubs: Mid-2026 More on the subject

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