Kraken Culture Explained

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)!

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 trading platform 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 Co-Founder and Chairman of the Board, Jesse, his personal style and views, you can check out the interviews he’s done and his Twitter account: @jespow

 

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.

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 global adoption of crypto so that everyone can achieve true financial freedom and inclusion 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.

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:

 

• Kraken chat rooms, including: #crypto-memes, #defi, #industry, #nft, #pricetalk, #yield-hunters
• Leader AMAs
• Krakenite Deeper Dive Podcast
• Kraken Crypto Learning & Development Courses

 

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.

The “Professionals” are still sitting on the sidelines, waiting for parental approval. The Pirates have been sailing the high seas of uncertainty for the last decade to deliver humanity to the promised land. Do Krakenites “act professional”?  It depends on who you ask! If you’re from a traditional environment, you may find us to be casual and transparent by comparison.

 

Krakenites are focused on outcomes, which is why we value skill and knowledge above credentials and presentation. It’s why we work remotely in pajamas rather than from offices in suits. We may look like a motley crew of misfits but we run a tight ship and get a lot done. Of course, we keep a few business costumes in the trunk for special occasions.

 

Krakenites are “professional pirates” which means we’re:

 

• Radically transparent and authentic
• Casual and approachable (vs. formal and guarded)
• Clear, concise, and direct communicators
• Highly adaptive and flexible team players with strong work ethic
• Kind-hearted while also being extremely candid (i.e., you may not always like everything that’s said, but it’s coming from a good place)
• Skeptical of too much centralized power
• Creative and unconventional in how we approach problems
• Fond of adventure and capable enough to trust ourselves in navigating tricky situations that’d scare “professionals”
• Unafraid to express differing opinions, calmly ask questions, or confront issues in a small or large group

 

If you value etiquette meaningfully above transparency and authenticity then you may be uncomfortable here.

The crypto movement is rooted in “dangerous” ideas, such as all humans having fundamental rights to:

 

• Encryption
• Free speech
• Free markets
• Currency choice
• Open source software
• Personal & financial privacy

 

Some might characterize these beliefs as humanitarian, egalitarian, libertarian or classically liberal. People who hold the above beliefs often believe that none of those rights are possible without these rights:

 

• Liberty
• Self-defense
• Due process
• Personal property
• Limited government
• Personal bodily autonomy

 

This should be no surprise to Americans as these rights can all be derived from the US Constitution. While government encroachment on these rights has become tolerated (or even demanded), we believe that we should covet the rights we have because they are never returned once taken. Our ability to drive crypto adoption in the world depends on these rights.

 

Not everyone needs to personally hold these beliefs to enlist as a Krakenite but these beliefs are a core component of our culture. You will be exposed to them regularly, and expected to instill them in your decision making at work.

 

Here are some examples of how these beliefs might affect how you work and your experience:

 

• We will push back on government overreach
• We will go above and beyond to protect the personal and financial privacy of our clients
• We may develop or sponsor open source software that empowers citizens to resist corruption
• We will seek to limit market interference and restrictions on who is allowed to participate in markets
• We will engage in disputes with government agencies where outdated laws are unfairly exclusionary
• We will engage in lobbying, as a single-issue donor, supporting controversial politicians and legislation that furthers The Mission, possibly to the detriment of other civil rights causes
• We will advertise with and sponsor controversial television programs, podcasts, influencers and events, if it furthers The Mission
• We may incorporate firearm and self-defense training in to corporate retreats
• We will allow discussion and photographs of firearms in public (but optional) chat rooms
• We will not discriminate based on choices resulting from Krakenites exercising their right to bodily autonomy
  • Retreat attendance is optional, however, remote participation may not be facilitated. Retreat activities are optional and we try to support several options to choose from.

If nobody is ever offended, we either don’t have enough diversity of thought or we don’t have enough transparency in communication. We are pushing the envelope, treading in uncharted territory, and doing what has never before been done. If it feels easy or comfortable all of the time, you’re probably doing it wrong. While it is not our goal to offend people, we recognize that it’s inevitable in a global organization that is optimizing for team outcomes above individual feelings.

 

While brilliant jerks are not welcome among our ranks, Kraken moves fast and we collectively understand that there is no time to spend sugarcoating every interaction, especially as many are text-based and lack explicit tone. The ideal Krakenite is both thick skinned, and well intentioned.

 

We acknowledge that when individuals come together a beautiful melting pot forms — one which consists of very different societal norms, world perspectives, opinions, preferences, expectations, and senses of humor.  Within our global and diverse company, these differences are magnified. We have team members from over 70+ countries, speaking 50+ languages, and representing a wide range of demographics.  As a result, it is inevitable to have a wide range of individual standards and principles at our company.  We embrace and celebrate this reality of diversity.

 

Diversity cannot exist if there is no 1) diversity of thought and 2) tolerance of diverse thoughts.

 

We believe that expecting or encouraging Krakenites to strive to never ever offend their fellow teammates and/or to be compelled into conforming to the most vocal colleague’s societal or cultural norms, leads to a significant reduction in our ability to build and celebrate diversity and inclusiveness.  We also believe the quality of overall Krakenite happiness, company culture, transparency, and productivity will suffer.

 

Sometimes as humans, despite our best efforts, we say or do the wrong thing. What’s important is we strive to not offend one another, and we always try to be kind to one another. We seek to understand each other, and we aim to maximize productive interactions.

 

Our basic principles for communicating:

 

• We mostly communicate in English, sometimes unsuccessfully due to language barriers and varying levels of proficiency across 70+ countries
• Krakenites are welcome to request (and deny) personal language and communication preferences of each other but there is no right, wrong or formal rule that would impose an obligation or make one preference subservient to another
• Text-based communication is suboptimal in many ways. We don’t benefit from tone of voice, facial expressions, mannerisms and other context indicators. Abundant use of emoji is strongly encouraged. 😀😊🤗
• We give each other the benefit of the doubt
• Everyone is responsible for their own feelings
• Being offended doesn’t necessarily make you right
• Being offended doesn’t necessarily make you “harmed”
• Words nor silence are ever “violence”
• We say why we disagree and calmly challenge ideas with logic, reason, and better ideas
• We do not call someone’s words toxic, hateful, racist, x-phobic, unhelpful, etc.
• We do not demand respect, but we encourage offering it
• We assume ignorance before we assume malice
• We always work to de-escalate a discussion that becomes emotional
• We try to resolve personal disputes 1:1, ideally over a video call vs chat

 

Note: we abide by all labor laws and do not support illegal activities in the workplace.

What works:

• Driven by purpose, reward, competence, etc.
• Humble
• Team-minded
• Radically transparent, substance-rich communicator
• Positive and determined attitude
• Speaks simply and truthfully
• Curious and encourages curiosity in others
• Craves and appreciates critical feedback
• Proactively calls attention to their missteps or oversights, and takes extreme ownership
• Proactively points out possible weaknesses in their work (so the work can be made stronger), especially when presenting work for or to a group
• Nice to everyone
• Treats every Krakenite the same, regardless of role, tenure or perceived level of power
• Is comfortable with taking risk and doesn’t let risk intimidate them from doing what’s good for the business
• Out-of-the-box thinker: Craves creativity, innovation, understands that leaps of faith are necessary, and understands that not all value can be quantified
• First-principles thinker: Seeks to understand the root of a problem and looks for novel solutions
• Values speed
• Breaks down workplace politics and doesn’t engage in it
• Extremely comfortable with computers, modern technology, the Internet and automation tools

What doesn’t work:

• Driven by ego or the pursuit of power
• Arrogant, pompous, or acts superior to others
• Self-centered, reckless, lazy
• Self-pitying or unconstructive attitude
• Lies or tells you what you want to hear
• Not curious and/or punishes others for asking questions
• Speaks with a lot of corporate buzzwords, jargon, or fluff (which may indicate a preoccupation with wanting to appear impressive or concealment of lack of knowledge)
• Reacts defensively to critical feedback
• Hides, denies, obfuscates, or “spins” (misrepresents so it’s more flattering) any misstep or oversight made
• Conceals possible weaknesses in their work (so others cannot easily identify areas to improve), especially when presenting work for a group
• Is only nice (or extra nice) to those who they can gain advantages from
• Treats or talks to Krakenites differently depending on their role, hierarchical position, or perceived level of authority or power
• Takes no or low risk for most or all things, regardless of what’s good for the business. This may be done in order to “fly under the radar” and “play it safe” or to achieve maximum job security (even though the result will be the opposite)
• Inside-the-box thinker: Has little interest in creativity, innovation, is uncomfortable with taking leaps of faith, and discounts value that cannot (or cannot easily) be quantified