Cryptocurrency exchange Kraken is organizing a team-building trip for most of its employees to a Caribbean island in January 2026. The retreat aims to energize the company ahead of its anticipated U.S. listing. Kraken has also provided all employees with a one-off bonus.
According to two people familiar with the plans, Kraken is whisking the vast majority of its staff to an idyllic Caribbean island holiday early next year. The exact location remains undisclosed for security reasons. This initiative follows a challenging period earlier in 2025, when the company reportedly cut hundreds of staff members.
The retreat is timed to boost morale before a much-anticipated initial public offering in the U.S. Kraken's S-1 filing with the U.S. Securities and Exchange Commission is expected before the end of 2025, though a company representative declined to comment on the IPO timeline. Kraken itself declined to comment on the retreat plans.
The company's recent financial performance underscores its momentum. In the third quarter of 2025, Kraken reported revenue of $648 million, marking a 114% increase from the same period last year. Adjusted earnings before taxes and other items reached $178.6 million, up 124% quarter-over-quarter, while total volume rose 23% to $561.9 billion. This growth builds on a $500 million funding round that valued the exchange at $15 billion.
Such perks come as Kraken positions itself for public markets amid a recovering cryptocurrency sector.