Tags : Cuts


Regulation

New Deal With NYDIG and B. Riley Cuts Bitcoin Miner

Embattled Bitcoin miner Greenidge Technology has finalized its debt restructuring plans with funding financial institution B.Riley and crypto funding agency NYDIG, decreasing its whole money owed by $61 million. In December 2022, the miner announced that there was “substantial doubt” about its capability to proceed as a enterprise, saying that its board of administrators had […]Read More

Bitcoin

NFT Market SuperRare Cuts 30% of Employees: ‘We Over-Employed’

SuperRare Labs, the corporate behind NFT market SuperRare, turned the newest crypto participant to make job cuts on Friday, asserting it can cut back its workers by 30%.  The information got here from SuperRare CEO John Crain, who tweeted out a message he despatched to workers in Slack. Crain cited aggressive development and over-hiring as […]Read More

Regulation

Genesis Cuts Workers by 30% as Monetary Woes From FTX

Genesis Buying and selling immediately introduced huge cuts to its workforce in an effort to cut back prices on the ailing institutional crypto agency.  The corporate didn’t present exact numbers, however sources near the matter confirmed to Decrypt that Genesis has laid off 30% of its employees. “As we proceed to navigate unprecedented business challenges, […]Read More

Regulation

Silvergate Inventory Down 40% Following Diem Write-Off, Job Cuts

Amid a “disaster of confidence” throughout the cryptocurrency trade, crypto banking group Silvergate Capital will minimize 40% of its workforce and abandon some tasks—together with a blockchain-based fee resolution primarily based on Meta’s abortive Diem mission. Silvergate inventory was down by 40% in premarket buying and selling, following a enterprise replace launched on Thursday. Within […]Read More

Blockchain

DeFi Lender Maple Finance Cuts Off Orthogonal Buying and selling

DeFi lending platform Maple Finance has lower ties with crypto agency Orthogonal Buying and selling after the latter allegedly misrepresented “its monetary place.” M11 Credit score, a Maple Finance pool delegate, issued a default discover to Orthogonal Buying and selling yesterday, claiming that the corporate has has $31 million in excellent liabilities and is unable […]Read More

Bitcoin

Genesis Cuts 20% of Workers, CEO Michael Moro Out

Crypto dealer Genesis Buying and selling announced that the agency’s CEO Michael Moro can be instantly stepping down from his function. Derar Islim, Genesis’ chief working officer, will take over as interim CEO whereas the agency is searching for a everlasting substitute. “It has been an honor to steer Genesis for practically a decade and […]Read More

Cryptocurrency

Robinhood April Cuts ‘Did Not Go Far Sufficient’, Says CEO

Robinhood, the beleaguered stock-trading app whose gamified consumer interface introduced crypto and “meme-stock” buying and selling into the mainstream final yr, is shedding 23 p.c of its workers, the corporate announced Tuesday.  The decline within the worth of cryptocurrencies, together with inflation, have been among the many causes, the corporate mentioned.  Robinhood cuts workers, once […]Read More