[DigitalToday reporter Jinju Hong] Cryptocurrency exchange Kraken has cut about 150 jobs to reduce costs stemming from the introduction of artificial intelligence (AI), it was reported.

Cointelegraph, a blockchain media outlet, reported on May 18 local time that the layoffs raised the possibility that Kraken's U.S. initial public offering (IPO) schedule could be delayed from within this year to 2027.

According to a person familiar with the company's situation, Kraken reduced headcount by about 150 as operating efficiency improved while it expanded the use of AI across its business. The person said AI is being used more broadly across the company, but there are no plans for additional layoffs for now.

The adjustment coincides with a broader trend of workforce reductions across the crypto industry. The number of jobs cut by crypto-related companies this year has exceeded 5,000. Many companies cite efficiency improvements from the spread of AI as the reason for layoffs.

The largest job cuts were carried out by Block. Block cut about 4,000 people, about half of its workforce, in February, and AI-based efficiency was also cited as a factor. On May 5, Coinbase cut 700 people, about 14 percent of its workforce, citing increased use of AI. Rival exchanges Gemini and Crypto.com also cut 200 people and about 180 people, respectively, this year, citing expanded AI use. That same week, crypto data company Dune also cut 25 percent of its workforce, citing business restructuring and a focus on core products.

Market conditions are also weighing. Crypto prices have continued to fall since late last year, increasing pressure on the financial statements of listed crypto companies, and multiple firms reported losses in first-quarter results. Against that backdrop, Kraken's listing schedule is also said to have been pushed back again.

Kraken had considered listing within this year, but it is now said to be targeting 2027 for its U.S. stock market debut. Kraken's listing plans have fluctuated in recent months. The company filed listing documents confidentially with U.S. regulators last November, but in March it halted the IPO push citing weakness in the crypto market.

Kraken co-CEO Arjun Sethi (아준 세티) confirmed again, when asked at a conference stage last month whether it had listing plans, that it had filed for a confidential IPO. He did not provide a specific timeline.

Kraken did not immediately issue an official position on the layoffs and listing schedule. As a result, market attention is focused on whether Kraken can pursue cost cuts and listing preparations in parallel without further restructuring.