Crypto Custody Firm Ledger Cuts 12% of Staff
The company cited macroeconomic headwinds limiting the company’s ability to drive revenue as a reason for the cuts.
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Layoffs
The company cited macroeconomic headwinds limiting the company’s ability to drive revenue as a reason for the cuts.
The company filed for bankruptcy in August.
Nevada regulators recently ordered the crypto company, which BitGo had planned to buy, to cease operations and noted a shortfall in customer funds.
A report circulated on Twitter on Tuesday that the exchange plans to eliminate 30% of its workforce amid declining profit.
Binance has stopped offering certain benefits to its employees on June 19 as the company’s profits continue to decline, according to former employees and internal company messages viewed by the Wall Street Journal.
Binance has laid off over 1,000 workers globally in recent weeks, the Wall Street Journal reported.
Stablecoin issuer Circle has cut its workforce slightly to maintain a “strong balance sheet,” the company said Wednesday.