Kraken, a prominent cryptocurrency exchange, has announced significant organizational changes, including the appointment of Arjun Sethi as co-CEO. This leadership shift comes amid a broader restructuring effort that includes the reduction of its workforce by 400 employees, affecting several top executives. The move reflects ongoing challenges within the cryptocurrency industry, as companies grapple with regulatory pressures and market volatility. Kraken's decision underscores the uncertain landscape facing crypto exchanges and the broader digital asset market.