Crypto Firm Binance.US Cuts Jobs in Anticipation of Costly SEC Fight
- Company cuts costs in preparation of costly litigation
- SEC sued the American platform, along with Binance, last week
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Binance.US, the American affiliate of Binance Holdings founded by Changpeng Zhao, laid off an unspecified number of employees as the crypto firm prepares for what is likely to be an expensive legal battle with US regulators.
A spokesperson for the company confirmed the job cuts, without providing specifics. Reuters earlier reported that about 50 people were affected, citing one unnamed person with knowledge of the dismissals.