Golden Finance reports that the cryptocurrency exchange Kraken has appointed board member Arjun Sethi as co-CEO, aiming to promote the company's continued growth alongside current CEO David Ripley. The company stated in the announcement: 'As a global remote organization, our net revenue has exceeded $1 billion. We have fallen into the trap of establishing organizational hierarchies, and we are making decisions regarding organizational discipline to address this issue and eliminate hierarchy. We need to be more streamlined and quicker.' New York Times tech reporter Mike Isaac earlier posted on X that two internal sources said Kraken is laying off 15%. A representative from Kraken declined to comment on that figure.