Kraken Paid 250 Salaries to Staff in Bitcoin Last Month, Exchange Tells Critic


Kraken paid 250 salaries to workers in bitcoin (BTC) final month, the crypto trade revealed in a tweet on May 23.

The agency was responding to Peter Schiff, the CEO of Euro Pacific Capital, who had claimed “there isn’t a approach that individuals are going to work for salaries paid in bitcoin.”

As an apart, Kraken added:

“By the best way, the worker who took 100% bitcoin in 2012 retired in 2013.”

Kraken reportedly employs about 800 folks. While this determine suggests about 30% of its workforce are being paid in cryptocurrency, there may very well be some approach to go earlier than it’s commonplace within the firm.

Across the business, there are some hurdles in place that may cease employers from providing crypto salaries in any respect. For instance, within the United States, employees should be paid to some extent in money or checks — and it’s nonetheless unclear in lots of international locations how such earnings needs to be taxed. Price volatility is one other concern, as BTC’s worth might rise or fall dramatically within the hours after a wage has been paid.

Last month, a former Kraken worker introduced he was suing the agency for $900,000, alleging that the trade had did not pay him for his work there.

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