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Coinbase rival announces major change for departing workers
Yahoo Finance· 2025-10-25 10:39
Core Insights - The cryptocurrency market is experiencing a resurgence, with Bitcoin priced around $111,000 and total market capitalization at approximately $3.8 trillion, yet there is a notable increase in talent churn within the industry, particularly among mid-level engineers and operations teams [1] Company Overview - Kraken, founded in 2011 by Jesse Powell in San Francisco, emerged as a safer and more transparent crypto exchange following the collapse of Mt. Gox, evolving into a global platform serving millions of traders and institutions across over 190 countries [3] Employee Well-being Initiatives - Kraken has introduced a voluntary offboarding program named "Sail Away," aimed at employees who wish to transition to new opportunities, providing paid transition periods, continued benefits, and professional career support, which is framed as a gesture of respect rather than severance or layoffs [4] - This initiative allows employees to step away before experiencing burnout, contrasting with the typical abrupt job exits in the crypto sector during downturns or reorganizations [5]