Crypto lender Genesis Trading lays off 30% of workforce
Publishing timestamp: 2023-01-05 19:49:51
Summary
Genesis Trading, a crypto lender owned by Barry Silbert's Digital Capital Group, has cut 30% of its workforce in an attempt to economize and avoid bankruptcy. This comes after the collapse of FTX, a major client, and the bankruptcy of Three Arrows Capital. Silbert has come under fire for freezing redemptions for all clients after FTX filed for bankruptcy protection.
Sentiment: NEGATIVE
Tickers: GBTC,
Keywords: fintech, grayscale bitcoin trust (btc), layoffs, business news, corporate bankruptcy, technology,
Source: https://www.cnbc.com/2023/01/05/crypto-lender-genesis-trading-lays-off-30percent-of-workforce.html