US trading platform Kraken has joined the long list of crypto companies that have decided to lay off part of their employees in order to optimize costs.
The exchange has announced it plans to lay off about 30% of its staff, which is about 1,100 people.
According to the CEO of the company, Jesse Powell, Kraken’s staff grew three times last year against the background of the growth of digital currencies.
However, pessimism has returned to crypto sphere this year and the bankruptcy of many market participants has exacerbated the situation and provoked a massive outflow of capital from the blockchain industry.
The exchange’s turnover has declined sharply over the past 12 months. In addition, he has noted that the company has also decided to reduce advertising costs and suspend the search for new specialists.
