Kraken Cuts 150 Jobs as Crypto Firms Accelerate AI-Driven Restructuring

Kraken has reportedly reduced its workforce by around 150 employees as the crypto exchange expands its use of artificial intelligence across internal operations, according to a report by Bloomberg.

The move reflects a broader shift unfolding across the digital asset sector, where companies are increasingly turning to automation and AI tools to improve efficiency amid weaker market conditions and mounting operational pressures.

Bloomberg reported that the restructuring effort could also delay Kraken’s long-anticipated US initial public offering until 2027.

AI Integration Reshapes Kraken’s Operations

According to the report, the layoffs are part of a wider strategy aimed at integrating AI systems across multiple divisions within the company, which operates legally under the name Payward.

Sources familiar with the matter reportedly indicated that Kraken is not currently planning an additional round of job cuts, despite continuing to expand the use of AI-driven tools throughout its workforce.

The exchange has been exploring operational restructuring at a time when many crypto firms are reassessing staffing levels, spending priorities, and long-term growth strategies following a more volatile market environment.

IPO Timeline Faces Further Delays

Kraken had previously been viewed as one of the leading candidates for a potential public listing in the United States.

However, Bloomberg indicated that the latest restructuring efforts may push any IPO plans back to 2027.

The company’s listing ambitions have already faced multiple delays in recent years. Reports suggest Kraken confidentially submitted IPO-related filings to US regulators in November before broader market weakness and deteriorating crypto conditions reportedly slowed progress earlier this year.

During a recent industry conference, Arjun Sethi, Kraken’s co-CEO, confirmed that the company had filed confidentially for a public offering but did not provide a specific timeline for a potential listing.

Crypto Industry Sees Broader Wave of AI-Led Layoffs

Kraken’s reported workforce reduction comes as the broader crypto sector experiences a growing wave of restructuring tied to automation and artificial intelligence adoption.

Industry estimates suggest that more than 5,000 jobs have been eliminated across blockchain and digital asset companies during 2026 as firms increasingly automate operational functions and reduce costs.

Earlier this month, Coinbase announced plans to reduce roughly 14% of its workforce as part of a strategic shift toward building a more AI-focused operating model.

Brian Armstrong, CEO of Coinbase, said AI tools are already significantly accelerating software development processes, allowing tasks that previously required weeks to be completed within days.

As part of its restructuring, Coinbase also reduced management layers and reorganized teams into smaller operational units designed to work more closely with AI systems.

Other crypto firms have followed similar paths. Gemini announced layoffs earlier this year while scaling back operations in several international markets, citing financial pressure and deteriorating market conditions following Bitcoin’s decline below key price levels.

Blockchain analytics platform Dune also recently reduced approximately 25% of its workforce as part of an internal restructuring focused on core product development.

AI Becomes Structural Shift Across Crypto Sector

The latest wave of layoffs suggests the crypto industry’s embrace of artificial intelligence is evolving beyond short-term cost-cutting measures into a broader structural transformation.

Rather than functioning solely as support tools, AI systems are increasingly influencing how crypto companies organize teams, develop products, manage operations, and scale infrastructure.

For digital asset firms operating in highly competitive and rapidly evolving markets, automation is becoming central to efforts aimed at improving speed, efficiency, and profitability.

At the same time, analysts caution that overreliance on automation could create new risks in an industry where security, compliance, and operational resilience remain critical.