Cryptocurrency exchange Kraken will take the vast majority of its staff to an idyllic Caribbean island in January next year, to boost the company ahead of a highly anticipated U.S. listing next year, according to two people familiar with the project.
A person familiar with the plans asked that the exact location of the team building outing not be released for security reasons.
Kraken also paid all its employees a special one-time bonus, according to sources.
The positive vibes will be a tonic, given that earlier this year, Kraken reportedly cut “hundreds” of staff.
Kraken declined to comment.
The stock market appears to be on a roll, having just announced that its revenues more than doubled in the third quarter. The company’s adjusted profit before taxes and other items reached $178.6 million, up 124% quarter-over-quarter, with volume up 23% to $561.9 billion.
The company’s S-1 filing with the U.S. Securities and Exchange Commission (SEC) is expected to be filed before the end of this year, according to one of the sources.
A representative for Kraken declined to comment on the timing of the company’s IPO filing.
