Crypto Giant Kraken will give employees 4 months to leave

  • Kraken’s CEO is offering four months’ pay to employees who don’t agree with his values ​​to leave.
  • The New York Times reports that the program has been dubbed “Jet Ski,” and employees have until June 20 to participate.
  • “We want you to feel like you’re jumping on a jet ski and happily heading off to your next adventure!” Read a note about the project.

Kraken, one of the world’s largest cryptocurrency exchanges, will pay employees four months’ wages to quit if they don’t agree with its values, according to The New York Times.

In a Wednesday report detailing the company’s internal cultural turmoil, the publication cited interviews with Kraken employees who made “hurtful” comments about preferred pronouns and derogatory statements toward women, among other occasional remarks, made by CEO Jesse Powell.

The employees also said Powell held a company-wide meeting on June 1 at which he unveiled the program, called “Jet Ski,” designed to motivate employees to leave if they don’t believe in the libertarian Kraken’s ideals, The Times reported.

A 31-page document, known as “Explanation of Kraken Culture,” laid out the program as a “recommitment” to the company’s core values. The newspaper reported that employees have until June 20 to participate in the acquisitions.

“If you want to leave the Kraken, we want you to feel like you’re jumping on a water bike and happily heading off to your next adventure!” Read a note about the acquisition, according to The Times.

Kraken did not immediately respond to Insider’s requests for comment.

On Monday, Kristina Yi, director of Kraken, wrote


slack

He told employees that “the CEO, the company and the culture will not change in a meaningful way,” and urged workers to go “to a place that doesn’t disgust you,” the Times reported.

In anticipation of publishing articles, Powell He said on Twitter Wednesday That “most people just don’t care and just want to work, but can’t be productive while motivated people keep dragging them into discussions and therapy sessions. The answer for us was to put together a culture document and say OK, commit, object, commit, or take the money.”

Powell said that “20 of the 3,200” employees were unaware of the company’s values, noting that there had been “a few heated discussions.”

Anti-establishment sentiment is common in cryptocurrency and other areas of decentralized finance. It has been given common ground in the industry with some conservative figures who decry “awakened” ideals in favor of what they see as free speech.

Powell’s Kraken cultural statement includes a section titled “We Don’t Prevent Aggression,” stresses the importance of “tolerance of diverse thinking,” and said “law-abiding citizens should be able to arm themselves,” according to The Times.

Powell is not alone in his position. Similarly, Tesla and SpaceX CEO Elon Musk said the “brain-wake virus” is hurting business at streaming giant Netflix, which also shared a culture memo with employees in May.

The company has asked employees to quit if they don’t approve of its content, such as controversial comedian Dave Chappelle’s show, which has caused a backlash over jokes about transgender people.

Musk retweeted the news with the caption, “Good move by netflix.”

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