Coinbase Doubles Its Staff to 500 Employees In Sharp Contrast to Kraken’s Recent Firing Spree

Coinbase, a major San Francisco-based cryptocurrency exchange, has increased the number of its staff members to 500, according to Business Insider report. The crypto giant, which is led by Brian Armstrong, has already hit its target for 2018. Meanwhile, Kraken went on a firing spree in of its business units, cutting ties with 57 people.  

While the cryptocurrency market keeps losing billions of dollars, the company tries different businesses models (trading, custody, brokerage) in order to expand its dominance in the industry. As U.Today reported earlier, the exchange is also mulling over launching its own Bitcoin ETF, similarly to its main competitor Gemini.