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Kraken has cut about 150 jobs as it expands its use of artificial intelligence. According to a Bloomberg report, the crypto exchange is using AI tools to streamline operations and improve efficiency. The layoffs come as the broader crypto market faces weaker conditions and falling digital asset prices. They also arrive during a wider wave of restructuring across the industry.
Kraken is not planning more layoffs for now. Even so, the move shows how quickly AI is changing work inside crypto firms.
The staff cuts may also affect Kraken’s long-awaited plan to go public in the United States. The exchange had expected to pursue an initial public offering this year, but that timeline may now slip to 2027. Kraken spent months preparing for a possible listing. It even filed confidential paperwork with US regulators late last year.
Still, the company paused those plans earlier this year. Weak market conditions and declining crypto prices drove that decision.
Kraken co-CEO Arjun Sethi recently said the company still plans to pursue a public listing. He did not give a specific timeline during a conference appearance last month.
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Kraken’s cuts fit a larger trend across the digital asset industry. Crypto companies have eliminated more than 5,000 jobs in 2026 so far, with many firms citing automation and AI. Block Inc. made one of the largest cuts. The company reportedly laid off around 4,000 employees in February.
Dune also reduced its workforce by 25%. Coinbase reportedly cut about 700 employees earlier this month, and it linked the move to rising AI use.
Gemini and Crypto.com also carried out layoffs this year. As a result, workforce reductions have become a recurring theme across major crypto firms. The sector continues to face pressure from falling prices and weaker trading activity. Several public crypto companies also reported disappointing first-quarter earnings.
Kraken still holds a major place in the global crypto market. A future public listing would mark a significant moment for the industry, especially as firms balance growth, regulation, and automation.
Kraken’s decision to cut 150 jobs highlights how artificial intelligence is rapidly transforming the crypto industry. As firms adapt to weaker market conditions and rising automation, Kraken’s delayed IPO plans reflect the growing challenge of balancing innovation, efficiency, and long-term growth.
