Right now, we introduced that Arjun is becoming a member of Kraken as co-CEO. We’re additionally rolling out modifications basically 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 most important crypto platform on this planet, we must be leaner and quicker.
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 accountable 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 will 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 choices to sort out this drawback and get rid of layers. We want to verify our high contributors are centered on constructing reasonably than managing. This implies we give extra energy to our leaders to construct best-in-class merchandise, leverage knowledge to make choices which might be 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 influence on individuals’s lives. We deeply respect 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, rising accessibility and increasing the use instances for crypto for individuals around the globe. What issues most is the utility we deliver to our purchasers.
The subsequent chapter of Kraken begins immediately. LFG.
