Crypto Broker Genesis Eliminates 30% of Staff in Latest Cuts
- Genesis has said it needs more time for lending unit solution
- Genesis has 145 employees remaining following rounds of cuts
Photographer: Gabby Jones/Bloomberg
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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.
The dismissals follow a separate round of job eliminations last year that saw a number of key leadership departures, and signal further upheaval at the New York-based firm amid an extended rout in the digital-assets market. The company now has 145 employees remaining, according to a Genesis spokesperson.