Crypto Exchange Platform Kraken Hires Chief Marketing Officer

Jean J. Sanders

Cryptocurrency exchange platform Kraken has named

Gannett Co.


Mayur Gupta

as its main marketing officer as levels of competition in the quick-increasing classification heats up.

Mr. Gupta experienced been main advertising and marketing and strategy officer at publishing company Gannett because 2020, and just before that held promoting leadership roles at meal-membership enterprise Freshly and audio-streaming services

Spotify Technology SA


Kraken, section of Payward Inc., intends to maximize its marketing pursuing its launch of a client application very last year, stated Jesse Powell, main executive and co-founder. It beforehand concentrated on the buyer encounter as its main indicates of attracting buyers since its founding in 2011, he reported.

Cryptocurrency corporations have been fast ramping up their internet marketing efforts, punctuated by the look of numerous in higher-profile commercials for the duration of this year’s Tremendous Bowl.

Coinbase Global Inc.

ran a 60-next Tremendous Bowl advertisement displaying a bouncing QR code, for instance, and a industrial through the sport starred LeBron James.

Mr. Gupta claimed he plans to use advertising to boost understanding of cryptocurrencies amongst shoppers and drive Kraken’s advancement in the process. He also designs to aid Kraken create emotional and cultural connections with customers and purchasers these kinds of as personal buyers, drawing on his expertise at membership-driven companies in which this sort of interactions have been crucial, he additional.

“We are not in a race to be the loudest voice,” Mr. Gupta explained.

Various other crypto exchanges have also employed CMOs in recent months. Coinbase employed Kate Rouch, earlier an government at

Meta Platforms Inc.,

as its 1st CMO last August.

And Bittrex World GmbH employed Paul Grier as CMO in January. Regulatory challenges have spurred the adoption of CMO roles across the crypto sector, Bittrex Main Government Stephen Stonberg mentioned.

“The purpose of the CMO is a must have at assisting discuss to our clients,” Mr. Stonberg claimed. “They require to make our market complexities comprehensible to new retail investors, even though producing the expertise common for institutions applied to the common money space.”

Kraken has gained criticism from some for declining to shut down all Russian users’ accounts in the wake of the country’s invasion of Ukraine, as properly as for closing its headquarters in San Francisco, contacting the city unsafe.

WSJ’s Dion Rabouin clarifies why Wall Avenue is now betting major on crypto and what that usually means for the new asset course and its potential. Photo composite: Elizabeth Smelov

Kraken is checking the developments in Ukraine and Russia, and has acted in accordance with U.S. sanctions, the firm said. Kraken has no options to set up a new global headquarters, it said.

Individuals conclusions replicate the company’s values all-around independence, transparency and stability, values that are in line with what crypto signifies, Mr. Gupta stated.

“While internet marketing is likely to be accountable for progress, it is going to be on major of objective-pushed attempts,” he said. “We won’t push growth in the absence of that goal, or the price of our soul, which at times can occur in growth-phase startups.”

Generate to Ann-Marie Alcántara at [email protected]

Corrections & Amplifications
An before variation of this article improperly referred to Bittrex Global GmbH as Bittrex Inc. (Corrected on April 19) Kraken earlier experienced an executive serving as chief marking officer from 2019 to 2020. An earlier edition of this article improperly said Mayur Gupta was Kraken’s initial CMO. (Corrected on April 25)

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