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Introduction

Kraken Culture Explained(Back up)

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.

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.

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.

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 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

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:

Krakenites are expected to use our products, to use competitors’ products, and to seek input from users in the process of developing products.

Knowing our competitors’ products helps us understand our relative position. It might also help us understand something about the expectations of clients we hope to convert. Are we differentiated? Are we better or worse? Why? How? Where should we be spending our time? How can we win?

Users say the darndest things, and so does the data, which is why we’re always listening, looking for new insights, points of friction, things people want, and ways of using our products we never imagined. Bringing crypto to the masses means making it easy, friendly and humane.

We shouldn’t forget that the biggest enemy is the incumbent system, those fighting to maintain power in the status quo, and the attachment people have to its familiarity, no matter how much they’ve been cheated.

It’s still up to us to think beyond the “faster horse” or “better bank” and show people what they need but never wanted — what they never thought possible.

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:

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:

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:

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:

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

Krakenites are both humble and resilient.

There is no second mission. That means the question: “Should we do X side mission?” is always answered in the context of whether and to what extent it is necessary or even helpful in achieving The Mission. For example,

We believe that this weaponization of the financial system is immoral. Financial services have often been compelled to deplatform people and organizations with unpopular views. In our age, being without financial services is like being without electricity. Our goal is maximum representation and inclusion, to the extent we are not supporting illegal activity. We will not voluntarily deplatform controversial but law-abiding individuals or businesses. Of course, if the laws change, we will follow them.

There is no room for tribalism, in-fighting or the pursuit of agendas that are not officially set by the company. We cannot allow ourselves to be distracted by petty disputes over first-world problems while the rest of the world suffers with a real humanitarian crisis that we can help solve. Not only that, we are in competition with other businesses fighting for the same clients. This is not a lifestyle business. This is a grow and win or die business. This is… Kraken!

People are weird. Crypto people even weirder and if you join the company, you will be assimilated🤖. We value the unique perspective that each individual brings, wherever they’re from, and whatever their background.

We hire strictly based on merit, meaning we seek out the candidates with the abilities, knowledge, and skills considered the most suitable for the job. Then we assess for alignment with our culture and The Mission. Given the 70+ countries and 50+ languages represented within the company, we place a strong emphasis on team cohesion. Hiring for merit, rather than credentials or optics means that people who don’t “fit the profile” have a better shot. We cast as wide a net as possible in the sourcing phase and treat all candidates as unique individuals.

We reject the myopic view that “diversity” can be captured by a short checklist of obvious physical features. Silicon Valley’s view of diversity in the world is dangerously limited, a commodification of individuals, and a disturbing reflection of profound ignorance. Viewed through a global lens, diversity is infinite. We place an emphasis on equality of opportunity, regardless of background.

We’re building products and services to benefit all humans** and we see our range of diverse perspectives as one of our biggest competitive advantages. No differences should ever be allowed to derail us from The Mission.

While we don’t overly focus on our differences, we encourage everyone to be their unique selves. Given the remote environment, many choose to reveal very little about themselves and that’s totally fine too! Some even choose to go by a pseudonym rather than their legal name, which is great OpSec.

We discourage asking for and offering personal and demographic information which might be a burden to others or give the impression that we care about an individual’s identity more than we do their ability to raise the bar for the team. We’re especially careful of this in the recruiting and onboarding phases, before someone really knows and trusts us.

Note: We are committed to eliminating all forms of discrimination against legally protected groups in every jurisdiction in which we operate.

The Krakenites who thrive in their work and working relationships tend to possess similar personality traits and exhibit similar behaviors. Please see the below lists to understand what we encourage and reward, as well as what we discourage and avoid.

A quick note on some key points!

What works:

What doesn’t work:

Thank you so much for taking the time to read The Tentaclemandments!

Your voracious reading habits will serve you well in the crypto industry. 🤓

Culture is something we take seriously because we believe having a strong culture is necessary for being an effective company and for achieving The Mission.

We hope you think Kraken is a compatible ****workplace for you.

Speak soon!

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