Kraken has restructured its staff in anticipation of its initial public offering planned for next year. A spokesperson indicated that the company is actively evaluating its workforce to align with strategic goals, which has led to difficult decisions regarding layoffs and team consolidations. Despite layoffs, Kraken continues to hire in key areas and reports a surge in product launches and revenue growth. This restructuring comes amid a broader trend of layoffs in the crypto sector, even as Bitcoin prices rise. The company has recently appointed Arjun Sethi as co-CEO alongside David Ripley, aiming to streamline operations and eliminate unnecessary organizational layers. With a favorable regulatory environment emerging for cryptocurrencies, Kraken's parent company plans to launch its IPO in 2026, potentially making it the second public U.S. cryptocurrency exchange after Coinbase. The exchange also explores raising up to $1 billion in debt to accelerate growth, while expanding its offerings, including stock and ETF trading for U.S. customers.

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