Kraken parent Payward cuts 150 staff, streamlining business ahead of planned IPO
CoinDesk·
60-second summary
Kraken's parent company Payward is undergoing significant restructuring by cutting 150 staff to streamline its business ahead of a planned IPO. The crypto exchange is simultaneously seeking fresh funding at a $20 billion valuation, indicating confidence in its growth prospects. This move positions Kraken for accelerated expansion through acquisitions, further solidifying its market presence.
The crypto exchange is also seeking fresh funding at a $20 billion valuation as it ramps up acquisitions and prepares for a public listing.