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Coin Edition 2026-05-16 18:20:57

Kraken Parent Cuts Staff as $20B IPO Plans Face Market Pressure

Payward is cutting about 150 jobs, equal to roughly 5% of Kraken’s 3,000-person workforce. The cuts form part of a wider optimization push before a planned U.S. public listing. The company is also seeking fresh capital at a reported $20 billion valuation. Kraken parent Payward is cutting about 150 jobs as pressure builds around its planned U.S. stock market listing. The reduction affects roughly 5% of Kraken’s global workforce, which stands at nearly 3,000 employees. According to sources, the cuts are part of a wider effort to streamline the business before Payward returns to the IPO track. The company has already filed confidential listing paperwork, but weaker market conditions have delayed its public debut. Payward Cuts Staff Before IPO Payward’s latest workforce reduction adds to a longer restructuring process inside Kraken. The company cut about 40… Read The Full Article Kraken Parent Cuts Staff as $20B IPO Plans Face Market Pressure On Coin Edition .

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