Crypto.com, the Singapore-based crypto wallet and payments firm, is laying off 20% of its global workforce.
The company announced the news in a blog post published today. Kris Marszalek, the firm’s CEO, said in a statement that the decision was made to focus on “prudent financial management” and “to position the company for long-term success.” Crypto.com had already laid off 260 employees in July 2022.
The news comes during a week in which Coinbase and Blockchain.com, two more giants of the crypto sector, also announced layoffs. Coinbase said on Jan. 10 that it would lay off around 950 staff, while Blockchain.com said it would shed around 110 employees.
Crypto.com did not immediately respond to a request for comment.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://www.theblock.co/post/201947/crypto-com-cuts-20-of-workforce-amid-sector-wide-layoffs?utm_source=rss&utm_medium=rss