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CryptoMedium•15 May 2026•

1 min read

Kraken Parent Cuts 150 Jobs While Seeking $20 Billion Valuation

Key Facts

1Payward, the parent company of Kraken, has cut 150 staff members as part of a restructuring to streamline business operations.

2The company is seeking fresh funding at a $20 billion valuation to ramp up acquisitions and prepare for a public listing.

According to reports, Payward, the parent company of the Kraken cryptocurrency exchange, has laid off 150 employees as part of an organizational restructuring. This move is intended to streamline business operations as the firm seeks fresh capital. The company is reportedly pursuing a new funding round at a valuation of up to $20 billion to fuel future acquisitions and prepare for a public listing.

These strategic shifts occur as major exchanges face pressure to bolster financial efficiency ahead of IPOs, similar to cost-cutting strategies previously implemented by Coinbase (COIN) to enhance profitability. Per market data, Kraken's $20 billion valuation target positions it as a significant heavyweight in the sector, especially as major digital asset prices have shown relative stability in recent periods.

Investors should watch for the closure of the upcoming funding round as a gauge of venture capital confidence in the crypto space. Regarding catalysts, traders are weighing the U.S. CPI data released on May 12, 2026, which showed a monthly inflation rate of 0.6%, potentially impacting risk appetite for digital assets. Any official announcements regarding Payward's IPO timeline remain a key factor for the market.