Kraken, the exchange of cryptocurrencies that prepares for a possible public list in the United States at the beginning of next year, has seen the departure of four high executives on the institutional side of the business, according to a person familiar with the matter.
Those who have recently abandoned Kraken are: David Olsson, global institutional sales manager; Shannon Kurtas, Chief of Exchanges and a Product Vice President and Professional Service; Jeff Kramer, director of OTC Trading and Sanjay K, OTC Trading Lead for America, said the person, who refused to be identified.
Kraken declined to comment on the exits, none of which immediately responded to comments requests.
It was reported that Kraken had cut “hundreds” of jobs before a list of the United States planned for the first quarter of 2026. In April of this year, a Kraken spokesman said that the company was “making the difficult decision to eliminate certain roles and consolidate equipment where there are layoffs, while continuing to hire in key areas of the company.”
Kraken’s income in the second quarter of 2025 was 6.8% lower than in the equivalent quarter a year ago. The exchange of San Francisco, California, reported an Ebitda of $ 79.7 million, versus $ 85.5 million in the second quarter of 2024.
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