Kraken, a cryptocurrency exchange that is preparing for a potential public list of public lists in the US early next year, has seen four senior executives leave the institutional aspect of their business, according to those familiar with the issue.
Some of the people who have recently left Kraken are: Shannon Kurtas, Head of Exchange and Vice President of Products and Professional Services. Jeff K, director of OTC Trading and Sanjay K, said he is leading the OTC Trading lead at Americas.
Kraken declined to comment on the departure, but no one responded to a request for comment immediately.
Kraken reportedly trimmed “hundreds” of jobs ahead of the US list scheduled for the first quarter of 2026. In April this year, a Kraken spokesman said the company “is difficult to eliminate certain roles and continue to have redundancy while continuing to hire in key areas of the business.”
Kraken’s revenues were 6.8% lower in the second quarter of 2025 than in the quarter a year ago. The San Francisco, California-based exchange reported an EBITDA of $79.7 million compared to $85.5 million in the second quarter of 2024.
read more: Kraken will drop “hundreds of jobs” to streamline the business ahead of the IPO, sources say
