Crypto Exchange Kraken Accelerates Hiring Amid Crashing Crypto Markets

Crypto Exchange Kraken Accelerates Hiring Amid Crashing Crypto Markets

Despite the current crypto bear market, Kraken expects to fill out 500 free job positions across numerous departments in the upcoming months.

On June 15, US-based crypto exchange and bank Kraken issued a statement indicating that the company developed “policies that might not appease woke activists but work for the other 99% of the world,” adding that it would increase its headcount by more than 500 additional employees.

The news comes right after several other crypto exchanges also stated that they would seek to expand their team during the crypto bear market. For instance, earlier in June, Binance’s CEO Changpeng Zhao (CZ) mentioned that the organization is in need of another 2000 workers, whereas Ukraine's staking provider Everstake is expected to fill out 10 more free positions in the near future.

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Kraken’s co-founder and CEO Jesse Powell mentioned that the exchange does not have a particular hiring plan that the company will follow, adding that no layoffs will be made. He stated:

“​​We have over 500 roles to fill during the remainder of the year and believe bear markets are fantastic at weeding out the applicants chasing hype from the true believers in our mission."

The fourth-largest crypto exchange also mentioned that crypto winters are a perfect opportunity to get rid of the non-believers that are merely “chasing hype.” The CEO implied that 20 out of 3200 employees were not simply fit for Kraken’s culture

Despite the fact that such workers had great skills, they were negatively affecting other employees’ productivity as they focused more on “first world problems” rather than on “our really big, important Mission to help billions of people.”

On another note, a number of crypto organizations are downsizing, including crypto exchange Coinbase which laid off more than 1000 of its employees, and Gemini, which fired 10% of its team members.

Gyth L. - Crypto Analyst

by Gyth L. - Crypto Analyst, BitDegree


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