Version 1.1 | June, 2022
If culture is the way of life for a group of people, then company culture is the way of work for a group of people. It is a company’s shared set of traditions, values, goals, attitudes and norms – whether written or unwritten. We believe that every company should be as different and unique as every individual. Just as two individuals may or may not be compatible with one another, an individual and a company may or may not be compatible.
After reading this description of Kraken company culture, we hope that you have a sense of if you would like working here. We understand that while we will always be a great place to work for some who share our mission, we may not be the most compatible company for some others. If it wasn’t meant to be, that’s okay. We want you to be happy! With that said, we hope that you do want to become a Krakenite (i.e., a member of the Kraken team)!
Krakenites are aligned with both the culture and the mission.
“When you speak to everyone, you speak to no one.” – Meredith Hill
“You can't be everything to everyone, but you can be something to someone.” – Andrew Davis
Our Founders have worked together for over 20 years in remote-first companies, in the virtual goods industry. Prior to Kraken, from 2001-2011, they ran a virtual goods marketplace for video games called Lewt, which was constantly plagued by payment problems. Digital currency was obviously the future and when they discovered Bitcoin in 2011 they went all-in, sold Lewt and started Kraken with the belief that Bitcoin – if they could drive adoption – would improve life for billions of people.
Starting a crypto exchange was a daunting task, chock-full of danger, technical and legal complexity but the pair saw it a challenge worth pursuing. They funded the company from their own pockets for the first three years, before investors took the industry seriously. It requires an ideological drive, a greater sense of purpose, to walk away from a successful business and risk everything while “experts” call you crazy.
Eleven years later, our Founders are still on the front lines of the battle. Their values – crypto, cypherpunk, libertarian values – are the core of what continues to make this company the most attractive home for the top minds in the industry.
If you’d like to learn more about our CEO, Jesse, his personal style and views, you can check out the interviews he’s done and his Twitter account: @jespow
“I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party.” – Satoshi Nakamoto
Globally, 1.7 Billion Unbanked - 2017 by The World Bank
Inflation Rate - 2017 by The IMF
When Satoshi released the Bitcoin white paper in late 2008, he proposed for the first time a system of borderless, global, digital money. The network of Bitcoin nodes is leaderless yet maintains monetary and cryptographic soundness through the process of distributed consensus.
Proof-of-work has revolutionized the very concept of money. No longer do a small cabal of bureaucrats or politicians decide how much money circulates or who receives special privilege – or punishment – within the monetary system.
Bitcoin removes politics from money. The implication is that anyone is free to transact on the Bitcoin network as long as they can cryptographically prove control of their keys. Anyone can participate in Bitcoin mining as long as they follow the rules of the system and expend energy to do so.
There are no shortcuts. No one can change the rules of the system without the overwhelming consensus of all participants, not merely a democratic majority. No one can rewrite history. No one can print money out of thin air and give it to their friends. The culture of Bitcoin – and the aspiration of the broader cryptocurrency ecosystem it spawned – is one of extreme ownership, responsibility, and work.
Beyond Bitcoin, other applications of blockchain technology are powering an explosion of experiments in decentralized finance, which are already solving real problems. DeFi yield farming gives the unbanked a self-serve, permissionless opportunity to earn a return on their savings. NFTs are replacing traditional certificates of ownership, proof of identity, concert tickets and enabling new forms of digital art. The Web 3.0 movement will ultimately replace much of the centralized Internet with freer, fairer, censorship-resistant alternatives.
All are welcome to join the revolution. More importantly, no one can be excluded.
Global Cryptocurrency Adoption - June 2021 by Chainalysis
Check Your Financial Privilege - 2022 by Alex Gladstein
A mission statement creates the core identity of a company. It encourages unity among the team and informs fast and easy decentralized decision making.
At Kraken, The Mission is to accelerate the worldwide adoption of cryptocurrency because we believe that this will improve lives of billions of people and usher in a new era of human flourishing.
We will accomplish The Mission by building a bridge from the old world to the new, meeting people where they are, and shepherding them gently across in a way that feels natural, safe, fun and superior to everything they’ve known before. We’ll pull rather than push by continuing to simplify, improve accessibility and expand the use cases of crypto for ordinary people. Unparalleled user experience and customer service is core to The Mission.
Crypto is to money what the Internet is to information — it is freeing, democratizing, equalizing. Today, billions of people are victimized and suffering as a direct result of a highly exclusionary and discriminatory financial system that overwhelmingly disadvantages minorities and the poor. It is our duty to see to it that we bring these people along with us, that they are not left out in the cold.
For over a decade, this company, through its adherence to The Mission and crypto ethos, has managed to attract and retain many of the most talented crypto experts in the world. Although we’re mindful of things like client growth, shareholder returns, and enjoying our time at work, our unwavering north star and ultimate goal is always to achieve The Mission. It underpins who we are, what we think, what we build, and all key decisions we make.
Does every Krakenite need to believe in The Mission? We believe so. Why? We are fighting an extremely difficult, protracted battle, facing tremendous uncertainty and peril. For the true believers, the prize makes the pain worthwhile. For those with less conviction, the journey might be too much.
Daily Mail, December 5, 2000
*“We learned that leadership requires belief in the mission and unyielding perseverance to achieve victory, particularly when doubters question whether victory is even possible.
Belief in the mission ties in with the fourth Law of Combat: Decentralized Command. The leader must explain not just what to do, but why. It is the responsibility of the subordinate leader to reach out and ask if they do not understand. Only when leaders at all levels understand and believe in the mission can they pass that understanding and belief to their teams so that they can persevere through challenges, execute and win.”* – Jocko Willink, 2015
You don’t need to be an expert coming in but you can’t be a noob for long. Crypto is moving at light speed and the company must always be prepared to pivot based on many uncontrollable external factors. Time must be dedicated to learning the fundamentals and staying abreast of the latest developments which could impact our clients and the work we’re doing. We expect each Krakenite to spend a few hours each week on education. Some roles may require more.
Fortunately, the company has a tremendous number of learning resources available and this knowledge will get you invited to all the best parties. Here are some ideas for how to spend your time:
The crypto movement is a rebellion — a war for The People’s Money. Our right to choose our currency, and the fate of the billions of people excluded from the financial system depends on our victory. Reconnaissance and intelligence gathering are a key part of our strategy. **Decentralized Command requires that we all be informed.**
If you haven’t used crypto yet, it’s probably a little early to enlist with Kraken but you can get started here.
“We must free ourselves of the hope that the sea will ever rest. We must learn to sail in high winds.” – Aristotle Onassis
“Learning gives creativity, creativity leads to thinking, thinking provides knowledge, knowledge makes you great.” – APJ Abdul Kalam
“People pay more than my salary to join private groups with this much alpha. The quality of discussion and expertise of participants is on another level.” – anon Krakenite
“We find that the Romans owed the conquest of the world to no other cause than continual military training, exact observance of discipline in their camps, and unwearied cultivation of the other arts of war.” – Vegetius