Kraken has laid off hundreds of employees across various business units in the past few months

ChainCatcher reports that, according to two insiders, cryptocurrency exchange giant Kraken has laid off hundreds of employees across all business areas in the past few months as the company prepares for a public listing in the United States and continues to streamline its operations.

It was reported that at the end of October last year, Kraken laid off 400 employees, about 15% of its total workforce, at which time Silicon Valley investor and Kraken board member Arjun Sethi was serving as co-CEO alongside David Ripley. One insider stated that "hundreds of people have left" since Sethi took on the role of co-CEO, noting that in addition to the 15% reduction in staff at the end of last year, the company plans to continue with layoffs.