# Kraken Parent Company Cuts 150 Staff Ahead of Planned IPO: CoinDesk

*Author: Jack Inabinet*
*Published: May 15, 2026*
*Source: https://www.bankless.com/de/read/news/kraken-parent-company-cuts-150-staff-in-push-to-streamline-ahead-of-ipo-coindesk*

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Citing two individuals with knowledge on the matter, CoinDesk [reports](https://www.coindesk.com/business/2026/05/14/kraken-parent-payward-cuts-150-staff-streamlining-business-ahead-of-planned-ipo) that Payward, Inc. (dba Kraken), "is cutting about 150 jobs as part of an optimization effort ahead of a planned IPO."

### What's the Scoop?
- **Kraken Cuts: **According to CoinDesk,** **crypto exchange Kraken's parent company (Payward, Inc.) has laid off roughly 150 employees, attributed to an internal reorganization effort to optimize the company and bolster its financials ahead of its planned initial public offering. Alongside the layoffs, CoinDesk also reports that Kraken is seeking fresh private market funding at a $20B valuation. Kraken – who employs approximately 3k people – declined to comment on the story.
- **Unclear IPO:** Kraken’s IPO ambitions have been repeatedly stalled and revived. The exchange [reportedly](https://www.bankless.com/read/news/kraken-pauses-ipo-plans-amid-difficult-market-conditions-coindesk) shelved plans for a multibillion-dollar public debut in March after "confidentially" initiating the IPO process with the U.S. Securities and Exchange Commission on November 19. However, speaking at Consensus Miami earlier this month, Kraken co-CEO Arjun Sethi flipped the script, [saying](https://www.coindesk.com/business/2026/05/05/kraken-eyes-ipo-as-it-partners-with-moneygram-to-bridge-crypto-to-cash-gap) his exchange is “about 80% ready” to go public.
- **Acquisition Tear:** In spite of its layoffs, Payward has seen fit to splurge on a relentless buying spree, acquiring eight companies since the start of 2025, including its at-the-time record-breaking $1.5B [purchase](https://www.bankless.com/read/kraken-is-acquiring-futures-platform-ninjatrader-for-1-5b) of the U.S. futures platform NinjaTrader, and recently announced $550M [acquisition](https://www.bankless.com/read/news/kraken-eyes-bitnomial-buyout-in-500m-cash-and-stock-transaction) of CFTC-licensed derivatives platform Bitnomial and $600M [acquisition](https://www.coindesk.com/business/2026/05/07/kraken-to-buy-stablecoin-payments-firm-reap-in-usd600-million-deal-bloomberg) of stablecoin payments firm Reap Technologies.

> SCOOP: [@Payward](https://twitter.com/Payward?ref_src=twsrc%5Etfw), the parent company of crypto platform [@krakenfx](https://twitter.com/krakenfx?ref_src=twsrc%5Etfw) is cutting 150 jobs as part of an optimization effort ahead of its planned IPO. [@willcanny99](https://twitter.com/willcanny99?ref_src=twsrc%5Etfw) reports. [pic.twitter.com/86afSyMWAi](https://t.co/86afSyMWAi)— CoinDesk (@CoinDesk) [May 15, 2026](https://twitter.com/CoinDesk/status/2055290592515547188?ref_src=twsrc%5Etfw)