The Verge published an interesting piece of information about the CySEC-regulated crypto exchange Crypto.com. In June, the crypto exchange announced the layoff of around 260 employees, or 5 percent of its workforce, due to the downturn in the crypto market. According to insider information from The Verge, however, the company has quietly let go of hundreds more employees. These new layoffs have not been publicized, and it’s difficult to estimate their exact number.
Evidently, Crypto.com has been trying to limit knowledge of the extent of these departures even within the company, with CEO Kris Marszalek refusing to answer a question about the total figure in a recent employees-only town hall meeting. All this suggests that Crypto.com might be under greater financial stress than publicly known.
The Verge has granted sources for this story anonymity due to their fear of reprisals from company management.
