TechFlow, April 18 — According to CoinDesk, sources revealed that cryptocurrency exchange Kraken has been cutting hundreds of employees across various business units over recent months, aiming to streamline operations in preparation for a potential U.S. IPO. Since Silicon Valley investor Arjun Sethi took on the role of co-CEO last October, following the elimination of 400 positions (about 15% of its workforce), the company has continued its downsizing. Insiders stated: "They are aggressively reducing staff across all functional departments, and this has been an ongoing process. The goal is to improve Kraken's earnings before interest, taxes, depreciation, and amortization (EBITA)."
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