Mark Greenberg, global head of asset growth and former head of Canada at the crypto-trading giant, said in a LinkedIn post that the Delaware-incorporated firm will be letting staff go under new co-CEO Arjun Sethi. Kraken declined to comment on whether any Canadian employees, totalling about 250 in the spring of 2023, will lose their jobs. (The Logic)

Talking point: Kraken and Coinbase are the two highest-profile international crypto platforms in Canada, opting last year to work with local regulators rather than exit the country amid a crackdown that began in 2021. Kraken is known for courting controversy, pledging in a culture document to “push back on government overreach,” and butting heads with U.S. regulators. The company is laying off about 15 per cent of its global workforce of 2,600, The New York Times reported, joining recent cuts made by crypto firms Consensys and dYdX despite a market rebound.