Kraken appoints Arjun Sethi as co-CEO while laying off 15% of its workforce.
According to reports, the cryptocurrency exchange Kraken has appointed board member Arjun Sethi as co-CEO, working alongside current CEO David Ripley to drive the company's development. At the same time, the company has confirmed a new round of layoffs to improve operational efficiency. According to official disclosures, the company's annual revenue has exceeded 1 billion USD, but it has faced issues with excessive organizational hierarchy under the global remote work model. Internal sources indicate that the scale of this layoff is approximately 15%. This marks another significant personnel adjustment for Kraken following a 30% layoff in November 2022. The new co-CEO Sethi previously served as CEO of Lolapps and has been a member of the Kraken board since 2021.
Kraken appoints Arjun Sethi as co-CEO while laying off 15% of its workforce.
According to reports, the cryptocurrency exchange Kraken has appointed board member Arjun Sethi as co-CEO, working alongside current CEO David Ripley to drive the company's development. At the same time, the company has confirmed a new round of layoffs to improve operational efficiency. According to official disclosures, the company's annual revenue has exceeded 1 billion USD, but it has faced issues with excessive organizational hierarchy under the global remote work model. Internal sources indicate that the scale of this layoff is approximately 15%. This marks another significant personnel adjustment for Kraken following a 30% layoff in November 2022. The new co-CEO Sethi previously served as CEO of Lolapps and has been a member of the Kraken board since 2021.
