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Crypto’s Kraken slashes 30 percent of workforce

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2 years ago

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One of the world’s largest crypto exchanges, Kraken, is laying off about 30% of its headcount, more than a thousand people.

The company’s co-founder and CEO Jesse Powell says the cuts are being made “in order to adapt to current market conditions.”

Powell wrote in a blog post that slowing growth, prompted by “macroeconomic and geopolitical factors,” had muted customer demand.

Powell says:

“We had to grow fast, more than tripling our workforce in order to provide those clients with the quality and service they expect of us,”

“I remain extremely bullish on crypto and Kraken.”

Crypto exchanges have been buffeted by withdrawals and regulatory scrutiny after the implosion of FTX, which is now spreading to other crypto exchanges.

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Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Warner Brothers & Discovery considers splitting up to boost stock value

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1 week ago

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July 19, 2024

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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1 week ago

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July 18, 2024

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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1 week ago

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July 18, 2024

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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