Kraken has cut 150 staff due to the rising use of AI, adding to more than 5,000 layoffs across the crypto sector so far this year, Bloomberg reports.
Crypto exchange Kraken has reportedly laid off some of its staff as a cost-cutting measure, which could delay its planned initial public offering in the US until next year.
The company, whose corporate name is Payward, laid off about 150 workers due to efficiencies from deploying artificial intelligence across the business, Bloomberg reported on Friday, citing a person familiar with the matter.
The person said AI is being used more extensively throughout Kraken, but the company is not planning further job cuts at the moment.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments