A brand new day for Kraken

In the present day, we introduced that Arjun is joining Kraken as co-CEO. We’re additionally rolling out modifications essentially altering how we innovate, construct and roll out merchandise for purchasers. 

Kraken was constructed from Day One with the mission of accelerating the worldwide adoption of crypto so that everybody can obtain true monetary freedom and inclusion. To proceed forging our path forward and put Kraken in rivalry to turn out to be the biggest crypto platform on this planet, we should be leaner and sooner.

As we’ve grown north of $1 billion in web income as a distant group worldwide, we fell into the lure of constructing organizational layers. We put managers answerable for the successes or failures of the teams they managed, and we predicated success primarily based on siloed P&Ls. At its greatest, this construction can present clear paths for “managers” whereby they’ll transfer from smaller, much less advanced areas of focus to progressively bigger and extra advanced ones. So, “managers” are incentivized to do the incorrect factor.  

We’re making organizational self-discipline selections to deal with this downside and get rid of layers. We want to verify our prime contributors are targeted on constructing somewhat than managing. This implies we give extra energy to our leaders to construct best-in-class merchandise, leverage knowledge to make selections which are greatest for our purchasers, and make engineering, product and design groups all really feel extra accountable for outcomes. 

Making organizational modifications is rarely straightforward, and we perceive their profound impression on individuals’s lives. We deeply recognize those that helped us get right here and for his or her many contributions, and we are going to help them throughout this transition. 

We’re utilizing all of our capital to proceed constructing a bridge from the previous world to the brand new — assembly individuals the place they’re — simplifying, growing accessibility and increasing the use circumstances for crypto for individuals world wide. What issues most is the utility we deliver to our purchasers.

The following chapter of Kraken begins at present. LFG.