The exchange grew too rapidly to fit the crypto industry, according to its CEO.

The company's team size is now the same as a year ago.

The severance package for laid-off workers was fair.

Kraken said in June that it would hire over 500 roles despite a market slowdown.

The company's employment initiatives contrasted with Coinbase and BlockFi's layoff announcements.

Current layoffs contrast with the CEO's June statements, when he criticised "woke activists" while announcing hundreds of new hires.