Cryptocurrency exchange Kraken will take the vast majority of its staff to an idyllic Caribbean island in January next year, to revitalize the company ahead of a long-awaited US listing next year, according to two people familiar with the plans.
A person familiar with the plans requested that the exact location of the team-building excursion not be published for security reasons.
Kraken also gave all of its employees a special one-time bonus, according to sources.
The positive vibes will be a tonic, given that earlier this year, Kraken was reported to have cut “hundreds” of staff.
Kraken declined to comment.
The exchange seems to be on a roll, as it just reported that its revenue more than doubled in the third quarter. The company’s adjusted earnings before taxes and other items reached $178.6 million, a quarter-over-quarter increase of 124%, and volume increased 23% to $561.9 billion.
The company’s S-1 filing with the U.S. Securities and Exchange Commission (SEC) is expected to arrive before the end of this year, according to one of the people.
A representative for Kraken declined to comment on the timing of the company’s IPO filing.
