Cryptocurrency exchange Kraken is whisking the vast majority of its staff off to an idyllic Caribbean island in January of next year, to energize the firm ahead of a much-anticipated listing in the U.S. next year, according to two people familiar with the plans.
A person familiar with the plans requested that the exact location of the team-building jaunt not be published for security reasons.
Kraken has also handed all its employees a special one-off bonus, according to the sources.
The positive vibes will be a tonic, given that earlier this year, Kraken was reported to have cut “hundreds” of staff.
Kraken declined to comment.
The exchange appears to be on something of a roll, having just reported that its revenue more than doubled in Q3. The company’s adjusted earnings before taxes and other items reached $178.6 million, up 124% quarter-over-quarter, with volume rising 23% to $561.9 billion.
The company’s S-1 filing with the U.S. Securities and Exchange Commission (SEC) is expected to land before the end of this year, according to one of the people.
A representative from Kraken declined to comment on the timing of the firm’s IPO filing.
