Kraken Cuts 150 Jobs in AI Efficiency Push as IPO May Slip to 2027
Summary
- Kraken has cut 150 employees as part of an AI-driven efficiency push.
- Restructuring tied to AI efficiency has spread across the industry, with more than 5,000 jobs cut so far.
- Bloomberg reported that Kraken’s IPO could be delayed from this year, with the company now considering a 2027 listing.
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Crypto exchange Kraken has cut 150 jobs as part of an artificial intelligence-driven efficiency push, according to a report. The move comes as layoffs spread across the digital-asset industry and Kraken’s planned initial public offering may face another delay.
Cointelegraph reported on May 18 that Bloomberg, citing an unnamed source, said Payward, Kraken’s operating company, recently laid off about 150 employees. The company described the cuts as part of efforts to improve operating efficiency through broader AI adoption.
There are currently no plans for additional layoffs, the report said. Kraken is still expanding the use of AI across its business.
AI-related restructuring has spread across the crypto industry this year. Cointelegraph said more than 5,000 jobs have been cut across the sector so far in 2026.
Block carried out the biggest restructuring of the year in February, cutting 4,000 employees, or about half of its workforce. Coinbase also laid off 700 employees on May 5, or about 14% of its staff. Gemini and Crypto.com have also reduced headcount by 200 and about 180, respectively.
The layoffs reflect not only cost-cutting efforts but also a prolonged bear market, according to market observers. Falling crypto prices since late last year have increased financial pressure on listed companies, and many firms posted losses in first-quarter earnings this year.
The latest job cuts have also raised the possibility that Kraken’s IPO timeline could be pushed back again. Bloomberg reported that Kraken had originally sought a US listing this year, but is now considering going public in 2027.
Kraken’s listing plans have been delayed several times. The company submitted a confidential IPO filing to US regulators in November 2025, but halted the process in March 2026, citing weakness in the crypto market.
Kraken Co-Chief Executive Officer Arjun Sethi reaffirmed the company’s IPO plans at a conference last month, but did not disclose a specific timeline.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
