As crypto declines, Kraken continues its hiring strategy

Leading American cryptocurrency exchange Kraken will continue to hire roles across various departments despite the turndown in the market.

While other crypto exchanges are facing major layoffs, Kraken will see 500 new hires across the company’s departments in a bid to expand its staff. According to the firm,

“We have not adjusted our hiring plan, and we do not intend to make any layoffs. 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… That’s why, despite a steep decline in crypto prices and an uncertain macro environment, we’ve taken this opportunity to align our internal culture around a set of shared values we feel will keep us agile, focused, and competitive as we execute on our mission in the years ahead. ”

As explained by Kraken, part of the decision is to ensure that the company is ahead of the market, especially as the industry moves so rapidly.

“Crypto is moving at light speed and the company must always be prepared to pivot based on external factors outside of our control.”

While Kraken is continuing to hire to fulfill roles, Kraken CEO Jesse Powell also commented on the culture of the exchange, noting that there is a pocket of people who are not totally “on board” the company’s mission. In a thread, he explained that there is massive talent in the firm but finding those who fit in the right culture is an important part of the company’s overall operations.

1/ We recently attempted to summarize what the @krakenfx culture has been over the past 11 years, and what we hope it continues to be.

We had a few heated debates and it turns out we have about 20 people out of 3200 who are totally not on board. 👇🧵https://t.co/Ht6bagQ6T1

— Jesse Powell (@jespow) June 15, 2022