Crypto Lender Genesis Considers Bankruptcy, Lays Off 30% of Staff

Summary by Ground News

Massive crypto lender Genesis Global Trading Inc. laid off 30% of its staff and is considering filing for bankruptcy, according to people familiar with the matter, the latest sign of financial turmoil at the crypto lender.

Published 2 months ago · New York, United States

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Reuters

Crypto lender Genesis lays off 30% of staff

Cryptocurrency firm Genesis has cut 30% of its workforce in a second round of layoffs in less than six months, according to a person familiar with the matter, as pressure builds on crypto industry executives to cut costs in the wake of a downturn.

2 months ago·United Kingdom

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CNBC

Crypto lender Genesis Trading lays off 30% of workforce

Barry Silbert's Genesis Trading reduced headcount by 30%, or 60 jobs, as the crypto lender fends off a potential bankruptcy filing after the collapse of FTX.

2 months ago·United States

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Channel News Asia

Crypto lender Genesis lays off 30% of staff: Report

Cryptocurrency firm Genesis has cut 30 per cent of its workforce in a second round of layoffs in less than six months, according to a person familiar with the matter, as pressure builds on crypto industry executives to cut costs in the wake of a downturn. Several firms have suffered from waning investor ap

2 months ago·Singapore

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NY Daily News

Crypto firm Genesis, crippled by FTX collapse, lays off 30% of staff, considers bankruptcy: report

Cryptocurrency lender Genesis Global Trading reportedly laid off 30% of its employees on Thursday and has openly examined filing for bankruptcy.

2 months ago·New York, United States

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Financial Post

Crypto lender Genesis lays off 30% of staff

Cryptocurrency firm Genesis has cut 30% of its workforce in a second round of layoffs in less than six months, according to a person familiar with the matter,…

2 months ago·Canada

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Bloomberg

Crypto Brokerage Genesis Eliminates 30% of Staff in Latest Cuts

Genesis Global Trading Inc. has laid off more than 60 employees in its latest round of job cuts, amounting to roughly 30% of the troubled crypto-brokerage’s workforce.

2 months ago·United States

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