Kraken, the cryptocurrency trade getting ready for a possible public itemizing within the U.S. early subsequent yr, has seen the departure of 4 senior executives from the institutional aspect of the enterprise, in response to an individual accustomed to the matter.
Those that have lately left Kraken are: David Olsson, world head of institutional gross sales; Shannon Kurtas, head of exchanges and a VP of product and the Professional service; Jeff Kramer, a director of OTC buying and selling and Sanjay Ok, OTC buying and selling lead for Americas, the individual mentioned, who declined to be recognized.
Kraken declined to touch upon the departures, none of whom instantly responded to requests for remark.
Kraken was reported to have trimmed “a whole lot” of jobs forward of a U.S. itemizing deliberate for the primary quarter of 2026. Again in April of this yr, a Kraken spokesperson mentioned the agency was “making the troublesome resolution to get rid of sure roles and consolidate groups the place redundancies exist, whereas persevering with to rent in key areas of the enterprise.”
Kraken’s earnings in Q2 2025 was 6.8% decrease than within the equal quarter one yr in the past. The San Francisco, California-based trade reported EBITDA of $79.7 million, versus $85.5 million in Q2 2024.
Learn extra: Kraken Sheds ‘Tons of’ of Jobs to Streamline Enterprise Forward of IPO, Sources Say
