Kraken, one of the world's largest cryptocurrency exchanges, is reorganizing its workforce by reducing some positions and consolidating teams where redundancies exist, while continuing to hire in key areas, a company spokesperson said on Thursday. Last year, Kraken appointed Arjun Sethi as co-CEO and announced a 15% reduction in its workforce, impacting about 400 employees. This follows the U.S. Securities and Exchange Commission's dismissal of a civil lawsuit in March, which had accused Kraken of operating illegally as an unregistered securities exchange.