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Crypto Slump Triggers More Job Cuts at Coinbase-Backed Rain

  • CEO cites ‘unfortunate changes’ within the crypto industry
  • Company’s backers include Kleiner Perkins, Coinbase Ventures
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Rain Financial Inc. is laying off hundreds of employees in a fresh round of job cuts, according to people with knowledge of the matter, as the ongoing volatility in digital assets takes its toll on one of the Middle East’s largest crypto exchanges.