According to BlockBeats, on October 31, The Block reported that cryptocurrency exchange Kraken announced the appointment of board member Arjun Sethi as co-CEO, aiming to promote the company's continued growth alongside current CEO David Ripley. The company stated in the announcement: "As a global remote organization, our net revenue has exceeded 1 billion dollars. We have fallen into the trap of establishing organizational hierarchies and are making decisions on organizational discipline to address this issue and eliminate hierarchies. We need to be more streamlined and agile." Earlier, New York Times technology reporter Mike Issac posted on X that two internal sources indicated that Kraken laid off 15% of its staff. A representative from Kraken declined to comment on this figure.

According to BlockBeats, on October 31, The Block reported that cryptocurrency exchange Kraken has appointed board member Arjun Sethi as co-CEO, aiming to promote the company's continued growth alongside current CEO David Ripley. The company stated in the announcement: "As a global remote organization, our net revenue has exceeded 1 billion dollars, and we have fallen into the trap of establishing organizational hierarchies. We are formulating organizational discipline decisions to address this issue and eliminate hierarchies; we need to be more streamlined and faster." Earlier, New York Times technology journalist Mike Isaac posted on X that two internal sources indicated Kraken is laying off 15%. A representative from Kraken declined to comment on this figure.

Kraken appoints board member Arjun Sethi as co-CEO and lays off 15% of its staff.