Cryptocurrency exchange Kraken is sending the vast majority of its employees to an idyllic Caribbean island in January to energize the company ahead of a highly anticipated listing in the US next year, according to two people familiar with the plans.
A person familiar with the plans requested that the exact location of the team-building trip not be published for security reasons.
According to sources, Kraken has also given a special bonus to all its employees.
The positive vibes will be a tonic, given that earlier this year, Kraken was reported to be cutting “hundreds” of employees.
Kraken declined to comment.
The exchange appears to be making some progress, having just reported that its revenue more than doubled in the third quarter. The company’s adjusted earnings before taxes and other items reached $178.6 million, up 124% quarter-on-quarter, with volume rising 23% to $561.9 billion.
The company’s S-1 filing with the U.S. Securities and Exchange Commission (SEC) is expected before the end of this year, according to one of the people.
A representative for Kraken declined to comment on the timing of the firm’s IPO filing.