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Crypto Billionaire Wu Cuts Jobs at One Firm, Loses CEO at Other

  • Matrixport says it’s cutting 10% of staff, mostly in marketing
  • Two executives said to have left billionaire Jihan Wu’s firm
Jihan Wu 

Jihan Wu 

Photographer: Anthony Kwan/Bloomberg
Updated on

Billionaire Jihan Wu is reshuffling the leadership of his asset manager while shedding 10% of staff at his digital-currency lending firm, the latest signs of turmoil in the crypto industry.

Damien Loh, Matrix Asset Management’s chief executive officer, has left the company, according to two people who asked not to be identified discussing personnel issues. I Z Wong, the head of business development and investor relations, has also left, according to one of the people.