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Yahoo Finance Live anchors discuss breaking reports that crypto exchange Kraken is issuing layoffs in the wake of the FTX collapse.
Kraken was co-founded in 2011 by Jesse Powell, an alumnus of California State University, Sacramento with Thanh Luu and Michael Gronager. [7] [8] Powell was a consultant for Mt. Gox in resolving a security issue, and began working on Kraken as a replacement anticipating its death; Gox would indeed collapse in 2014, failing security audits.
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Employees of Payward, which operates US cryptocurrency exchange Kraken, work under a rigorous security regime, to preempt potential cyber attacks.
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The cryptocurrency exchange is being sued by an ex-employee who alleges the company unfairly fired him for raising serious issues with its business practices.
In October 2023, The Wall Street Journal published a report titled "The Mortgage Market Is So Bad Lenders Want Ex-Employees to Give Back Their Bonuses" that detailed Guaranteed Rate's practice of clawing back signing bonuses from loan officers hired in years prior. According to the article, Guaranteed Rate's business dropped by over 50% in 2022 ...