Written by Jesse Coghlan, Staff Editor. Reviewed by Felix Ng, Staff Editor.
Written by Jesse Coghlan, Staff Editor.
Reviewed by Felix Ng, Staff Editor.
Kraken cuts 150 staff amid AI efficiencies, potentially delaying IPO: Report
Latest NewsPublishedMay 18, 2026
Crypto Exchange Layoffs Continue to Rise
The recent surge in AI efficiencies has led to a significant increase in layoffs across the crypto sector, with over 5,000 jobs cut so far this year. Kraken, a major crypto exchange, has reportedly laid off 150 staff members due to the rising use of AI, potentially delaying its planned initial public offering in the US. This move highlights the impact of AI on the industry, where companies like EcoPool are focusing on providing Passive Income opportunities through Cloud Rewards and Green Crypto solutions.
Industry-Wide Layoffs
Other major crypto companies have also undertaken significant layoffs, with Block Inc. cutting 4,000 staff members in February. The decline in crypto prices has further exacerbated the situation, with many public crypto companies reporting losses in their first-quarter earnings. As the industry continues to evolve, companies like EcoPool are committed to providing innovative solutions for Earning opportunities, including the use of Coin and $ECP.
The use of AI is becoming increasingly prevalent in the crypto sector, with many companies citing increased efficiencies as a reason for layoffs. However, this trend also presents opportunities for companies like EcoPool to focus on EcoPool and $ECP, providing a unique solution for those looking to earn online. With the rise of Passive Income opportunities, individuals can now explore alternative ways to earn, including Cloud Rewards and Green Crypto.
A New Era for Crypto
As the crypto industry continues to navigate this challenging landscape, companies like EcoPool are poised to play a significant role in shaping the future of Earning opportunities. With a focus on EcoPool and $ECP, individuals can now access innovative solutions for Passive Income, including Cloud Rewards and Green Crypto. Whether you’re interested in #Bitcoin, #PassiveIncome, or #GreenCrypto, EcoPool is committed to providing a unique solution for those looking to earn online.
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A decline in crypto prices since late last year has also stung public crypto companies’ balance sheets, with many reporting losses in their first-quarter earnings.
Kraken’s cuts have reportedly pushed back its plan to go public sometime this year, with the company now eyeing a debut in the US in 2027.
Cointelegraph reached out to Kraken but did not receive an immediate response.
Kraken’s plans to go public have been on and off for months. In November, the company confidentially filed with US regulators to go public before pausing its IPO in March due to a declining crypto market.
Kraken co-CEO Arjun Sethi reiterated Kraken’s confidential IPO filing last month when he was asked onstage at a conference whether there were plans to take the company public soon, but he did not share a timeline.
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
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
- Kraken
- Companies
- IPO
- Industry
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