Kraken halts NFT operation: Kraken has announced the suspension of its NFT marketplace operations, reflecting a strategic move to pivot towards more innovative products and services after two years of activity.

NFT market facing difficulties: The NFT market has yet to recover from the 2022 cryptocurrency downturn, while Bitcoin and other cryptocurrencies have seen a notable rebound.

Kraken’s restructuring move: In this context, Kraken is implementing a restructuring strategy by cutting 15% of its workforce and changing leadership, including a new CFO.