US Crypto Platform Kraken Announces Plans to Fire 30% of its Employees

Kraken has become one of the latest companies to announce plans to cut off their workforce given the current market downturn.

The exchange announced last week it intends to reduce its workforce by about 30%, that is, around 1,100 people may be affected by the measure.

According to the company CEO Jesse Powell, the platform’s staff grew three times last year against the background of the growth of digital currencies.

However, pessimism has returned to crypto world this year, and the bankruptcy of many market participants has exacerbated the situation and has provoked a massive outflow of capital from the blockchain industry.