Kraken allegedly does not pay its head of institutional sales and trading business after departure

Quick Take

  • Silverman v. Payward, Inc., et al.
  • Allegedly, on or about April 2017 the plaintiff, Jonthan Silverman, was hired “to head Kraken’s Institutional Sales and Trading Business and relocate the business to New York,” and CEO Jesse Powell orally agreed that the plaintiff would receive 10% of any annual profits generated by the trading desk to be paid out at the end of the year
  • The plaintiff was allegedly fired because Kraken had been representing to the public and regulators that Kraken conducted no business in the State of New York
  • As a result, the plaintiff was allegedly promised a payment of $907,631, which was never paid so the plaintiff filed a lawsuit

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