Kraken paid 250 salaries to employees in bitcoin (BTC) final month, the crypto alternate revealed in a tweet on Could 23.
The agency was responding to Peter Schiff, the CEO of Euro Pacific Capital, who had claimed “there is no such thing as a method 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 individuals. Whereas this determine suggests about 30% of its workforce are being paid in cryptocurrency, there may very well be some solution to go earlier than it’s commonplace within the firm.
Throughout the trade, there are some hurdles in place that may cease employers from providing crypto salaries in any respect. For instance, within the United States, employees have to be paid to some extent in money or checks — and it’s nonetheless unclear in lots of international locations how such earnings must be taxed. Worth volatility is one other concern, as BTC’s worth may rise or fall dramatically within the hours after a wage has been paid.
Final month, a former Kraken worker introduced he was suing the agency for $900,000, alleging that the alternate had didn’t pay him for his work there.