Right this moment, 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 competition to change into the biggest crypto platform on the planet, we must be leaner and sooner.
As we’ve grown north of $1 billion in internet income as a distant group worldwide, we fell into the entice 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 mistaken factor.
We’re making organizational self-discipline selections to deal with this drawback and remove layers. We’d like to ensure our high contributors are targeted on constructing reasonably than managing. This implies we give extra energy to our leaders to construct best-in-class merchandise, leverage information 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 simple, and we perceive their profound affect on folks’s lives. We deeply respect those that helped us get right here and for his or her many contributions, and we’ll 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 folks the place they’re — simplifying, rising accessibility and increasing the use instances for crypto for folks all over the world. What issues most is the utility we deliver to our purchasers.
The following chapter of Kraken begins right this moment. LFG.
